19th Nov 2020 19:31
Octopus Renewables Infrastructure Trust PLC - London-based investor in mainly onshore wind and solar projects - Secured a GBP150 million revolving credit facility from five lenders: Banco de Sabadell, Intesa Sanpaolo Spa London Branch, National Australia Bank, NatWest and Santander.
The interest rate is 2.3% above Libor, and is expects to use a portion of the facility to fund existing construction and acquisition payment commitments.
"We are delighted to have secured this GBP150 million RCF for ORIT with the support of a group of high-quality lenders. This RCF marks the next step in ORIT's development and provides additional resources to enable us to continue to grow and diversify ORIT's portfolio," said Investment Director Chris Gaydon.
Current stock price: 105.00 pence
Year-to-date change: down 2.3%
By Dayo Laniyan; [email protected]
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