Macquarie Infrastructure Debt Investment Solutions (Midis) has structured a £100m debt facility for the NextEnergy Solar Fund (NESF) to refinance 21 solar plants totalling 241MW.
The investment is part of a £150m debt facility from a syndicate of lenders, with Midis being the sole institutional investor.
The debt will fully amortise by maturity in 2035 and includes inflation hedging, an initial five-year grace period for principal amortisation and a staged draw-down to reduce cash-drag, Macquarie said.
Midis associate director Tom van Rijsewijk said: “The terms reflect an innovative hybrid structure – made up of bank and institutional tranches which each reflect the different preferences for each type of lender.”
Image: Morgue File
