Foresight Slr Fnd Ld Foresight Solar Fund Limited : Trading Statement - Acquisition Facility Refinancing And Extension Of Wym...
April 16 2015 - 2:00AM
UK Regulatory
TIDMFSFL
16 April 2015
Foresight Solar Fund Limited: Trading Update : Acquisition facility
refinancing and extension of Wymeswold Solar Plant
Foresight Solar Fund Limited ("The Company") is pleased to confirm the
refinancing of its acquisition facility which has also been extended
from GBP100m to GBP120m. The facility has been refinanced through RBS
and Santander at preferential terms against the original facility as
below.
Facility Tenor Libor +
GBP100m 3 yr 225bps
GBP20m 1 yr 185bps
This facility will be drawn to fund future operational UK solar power
plant acquisitions. It is expected that the facility will be repaid
through utilisation of further equity issuance under the GBP200m Placing
Programme which remains open until September 2015 and which has already
raised GBP96.2m, and/or refinancing with a long-term debt facility.
In addition, the Company is pleased to announce a 2.2MWp extension to
its Wymeswold plant in Leicestershire at a total cost of GBP1.8 million.
Wymeswold was the first operational plant acquired by the Company in
November 2013 at 32.2MWp with a ROC accreditation of 2.0ROCs, having
been connected to the grid in March 2013. This 2.2MWp extension
represents a 7% increase in capacity at the plant, bringing it up to
34.4MWp, and has been connected to the grid before the 31 March 2015
deadline for 1.4ROC accreditation. This 2.2MWp extension at 1.4ROCs
does not affect the 2.0ROC accreditation obtained for the initial
32.2MWp of installed capacity.
ENDS
For further information, please contact:
Foresight Group
Ben Thompson bthompson@foresightgroup.eu +44 (0)20 3667 8100
Stifel +44 (0)20 7710 7600
Mark Bloomfield
Neil Winward
Tunga Chigovanyika
J.P. Morgan Cazenove
William Simmonds +44 (0)20 7742 4000
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Foresight Solar Fund Limited via Globenewswire
HUG#1911558
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