EQS-News: ENCAVIS successfully signed project refinancing agreements for Spanish solar parks Talayuela & La Cabrera of EUR 203 million
Hamburg, 7th March 2024 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) has signed two non-recourse project refinancing agreements in a total amount of EUR 203 million for its operating solar plants Talayuela and La Cabrera, Spain.
- Hamburg, 7th March 2024 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) has signed two non-recourse project refinancing agreements in a total amount of EUR 203 million for its operating solar plants Talayuela and La Cabrera, Spain.
- Both refinancing transactions have been structured, arranged, and managed by ENCAVIS' inhouse Project Finance team.
- While ABN AMRO, Rabobank and Bankinter are financing partners of ENCAVIS for years, NatWest provides project financing to ENCAVIS for the first time.
- In total, the refinancing includes EUR 181.5 million Term Loan Facilities (hedged by interest rate swaps), as well as EUR 13 million Letter of Credit Facilities and EUR 8.5 million Debt Service Reserve Facilities.