Octopus Renewables secures three-year £150 million revolver

By Cady Vishniac

Detroit, Nov. 19 – Octopus Renewables Infrastructure Trust plc has secured a three-year £150 million committed revolving credit facility at Libor plus 230 basis points (or equivalent rate for non-U.S. currencies) from Banco de Sabadell, Intesa Sanpaolo SpA London Branch, National Australia Bank, NatWest and Santander, according to an announcement.

The facility can be drawn in pounds, euros, Australian dollars and U.S. dollars, and has an uncommitted accordion allowing for an increase of up to £100 million equivalent amount.

The company expects to use a portion of the facility to fund existing construction and acquisition payment commitments, as well as to acquire additional renewable energy assets.

Octopus is a London investment company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.