The Renewables Infrastructure Group (TRIG) has renewed its £150m revolving acquisition facility with Royal Bank of Scotland and National Australia Bank in order to continue growth of the company’s solar and wind portfolio.
The three-year multicurrency facility, which will expire on 20 April 2019, has a 205 basis point margin over Libor. It also includes a £15m working capital element.
The facility has been in place since 2014 and has been used to acquire interests in 29 projects.
TRIG is advised by InfraRed Capital Partners as investment manager and Renewable Energy Systems as operations manager.
InfraRed Capital Partners infrastructure director Richard Crawford said: “Renewal of this facility with RBS and NAB, at improved margins, together with TRIG’s proposed new share issuance programme, reinforces TRIG’s capability to access capital on a timely basis to address its pipeline of acquisition opportunities across multiple technologies and geographies.”
Image: the Roos wind farm is part of the TRIG portfolio (RES)
TRIG extends £150m support
Revolving acquisition facility renewed with RBS and National Australia Bank
By EBS