4th Sep 2023 10:55
(Alliance News) - Atrato Onsite Energy PLC on Monday said it has signed a new GBP30.0 million revolving credit facility with NatWest Group PLC.
The London-based renewable energy investment trust said the GBP30.0 million secured, interest only RCF has an initial three-year term and a one-year extension option at a margin of 1.30% over sterling overnight index average.
The RCF also includes a GBP20.0 million uncommitted accordion option which is exercisable at any time over the initial term.
"This new revolving credit facility will underpin the next stage of the company's growth, providing the financial flexibility to capitalise on its significant pipeline of opportunities," said Gurpreet Gujral, managing director of the company's investment advisor, Atrato Partners.
Shares in Atrato Onsite Energy were up 2.2% to 72.58 pence each in London on Monday morning.
By Sophie Rose, Alliance News reporter
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