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Oakey 1 and Longreach Portfolio Refinancing

11th Apr 2022 07:00

RNS Number : 8772H
Foresight Solar Fund Limited
11 April 2022
 

 

11 April 2022

Foresight Solar Fund Limited

("Foresight Solar" or "the Company")

Oakey 1 and Longreach Portfolio Refinancing

 

Foresight Solar, a fund investing in a diversified portfolio of ground-based solar PV and battery storage assets in the UK and internationally, is pleased to announce that it has reached final approval for the portfolio refinance of Oakey 1 Solar Farm (O1) and Longreach Solar Farm (LR) Portfolio) with ANZ and Deutsche Bank for a term facility of approximately A$59M plus a debt service reserve facility of approximately A$1m. 

 

Foresight Solar views the pricing of the refinancing to be improved from the current financing. The Portfolio will predominantly be hedged up to 10 years.

Following this transaction and in addition to the Lorca refinance announced on 29 March 2022, the Company's total outstanding debt is approximately £534.0 million, representing 45.6% of Gross Asset Value ("GAV") of the Company and its subsidiaries based on the Company's 31 December 2021 GAV of £1,172.0 million.

 

For further information, please contact:

Foresight Group

Nish Sivarajan

+44 (0)20 3911 2318

([email protected])

Jefferies International Limited

+44(0)20 7029 8000

Neil Winward

Gaudi Le Roux

Citigate Dewe Rogerson

+44(0)20 7638 9571

Toby Moore

Lucy Eyles

Lucy Gibbs

 

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