Renewable Energy launches $144 million credit facility at Libor plus 112.5 bps

By Sara Rosenberg

New York, Nov. 27 - Renewable Energy Systems launched its $144 million credit facility on Tuesday with price talk of Libor plus 112.5 basis points, according to a market source.

The facility consists of a $133 million one-year construction loan and an $11 million working capital line.

WestLB is the lead bank on the deal.

Proceeds from the credit facility, along with a $172 million institutional loan that runs through construction plus 21 years that will be priced off of Treasuries, will be used to back the construction of a wind farm project.

The renewable energy development company is based in Kings Langley, England.

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