The Renewables Infrastructure Group (TRIG) has refinanced and increased its multi-currency revolving credit facility (RCF).
The renewed RCF of £750m (€838m) has been made available to TRIG for a three-year committed term expiring 31 December 2025 at improved pricing compared to the previous £600m facility.
This extension supports the Company’s strong balance sheet, with significant headroom alongside retained earnings both to satisfy development and construction commitments and to take advantage of other attractive investment opportunities, TRIG said.
The RCF is currently £413m drawn.
The interest charged in respect of the renewed RCF continues to be linked to the Company’s ESG performance.
TRIG will incur a premium to, or reduction in, the margin and commitment fee based on performance against defined and stretching sustainability targets.
The margin can vary between 180bps and 190bps over the prevailing base rate for Sterling and Euro borrowings, depending on TRIG’s performance against the agreed sustainability targets.
The consortium of lenders is comprised National Australia Bank, Royal Bank of Scotland International, ING, Sumitomo Mitsui Banking Corporation, Barclays, Lloyds, BNP Paribas, ABN Amro, Skandinaviska Enskilda Banken and Intesa SanPaolo.