TRIG renews revolver at £750 million with improved pricing

By Marisa Wong

Los Angeles, Feb. 6 – The Renewables Infrastructure Group Ltd. (TRIG) has refinanced and increased its multicurrency revolving credit facility, according to a press release.

The renewed revolver of £750 million has been made available to TRIG for a three-year committed term expiring Dec. 31, 2025 at improved pricing compared to the previous £600 million facility.

The company said this extension supports its strong balance sheet, with significant headroom alongside retained earnings both to satisfy development and construction commitments and to take advantage of other attractive investment opportunities.

The revolver is currently £413 million drawn.

Interest continues to be linked to the company’s ESG performance. TRIG will incur a premium to, or reduction in, the margin and commitment fee based on performance against defined and stretching sustainability targets. The margin can vary between 180 basis points and 190 bps over the prevailing base rate for sterling and euro borrowings, depending on TRIG’s performance against the agreed sustainability targets.

The consortium of lenders is comprised of National Australia Bank, Royal Bank of Scotland International, ING, Sumitomo Mitsui Banking Corp., Barclays, Lloyds, BNP Paribas, ABN Amro, Skandinaviska Enskilda Banken and Intesa SanPaolo.

TRIG is a renewable energy infrastructure investment company based in the United Kingdom.

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