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NextEnergy Solar Fund Ltd - Guernsey-based investor and asset manager in the solar sector - Ups revolving credit facility with AIB Group UK PLC & NatWest to £135 million from £75 million. This increases its total borrowing capacity to GBO205 million, of which £115.5 million has been drawn down so far. Say the credit facility has been secured on ‘attractive terms’, with a margin of 120 basis points over sterling overnight index average, available until June 2024. Adds that the extra funding will be to progress its immediate pipeline of solar farms and battery storage assets.
Ross Grier, UK managing director of NextEnergy Capital, says: ‘The £60 million increase in the AIB and NatWest revolving credit facility provides the company with sufficient headroom to secure solar and battery storage optionality within the immediate pipeline. We have also secured attractive terms considering the current macro environment.’
Current stock price: 107.84 pence, up 3.7%
12-month change: up 8.1%
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