PLT energia : signs an hybrid financing for an overall amount of 162.3 million euro

PLT ENERGIA SIGNS AN HYBRID FINANCING FOR AN OVERALL AMOUNT OF 162.3 MILLION EURO

Cesena, October, 22nd 2018-PLT energia, an Italian industrial holding operating in the renewable energy market, announces that PLT Group has signed an hybrid financing composed of a bond issue and a bank financing in favor of PLT wind S.p.A. (a company entirely controlled by PLT energia S.p.A.). The transaction, aimed at, among others, refinancing a 9 wind farms portfolio for an overall installed capacity of 110,6 MW that will be finalised next October, 23rd, includes both a senior loan financing and a project bond, both senior secured, for an overall amount of 162.3 million euro. The bond, equal to 60 million euro, that will be listed in the ExtraMOT segment of Borsa Italiana, is unrated and structured as an only variable tranche, provided by certain international institutional investors.

The transaction has been successfully arranged together with Unicredit, acting as Transaction Agent, Mandated Lead Arranger and Sole Bookrunner.

The international law firm Orrick, Herrington & Sutcliffe has advised PLT Group, looking after the audit activity of the documentation related to the bank financing, the bond issue and the guarantees, as well as the draft of the admission document related to the bond listing in the ExtraMOT segment of Borsa Italiana and the related admission activities with Borsa Italiana.

The lawyer Marco Rossi, partner of the Law and Accounting firm Rossi Rossi & Partners, has taken care of the hedging strategy of the operation and the analysis of the coverage of the rates on behalf of PLT Group.

The international law firm BonelliErede advised Unicredit, Banco BPM S.p.A. and the institutional investors, including the investor SCOR Infrastructure Loans, managed by SCOR Investment Partners, as investors of the transaction. In particular BonelliErede team has been involved in the structuring of the financing, in the due diligence activity, in the drafting and negotiation of the financing documents related to the granting of the new credit line as well as to the issuance of the bond, including the security package.

Finally, PwC TLS has acted as Banks and investors tax adviser, DNV GL acted as the technical adviser and AON as the insurance adviser.

PLT energia S.p.Ais an italian industrial holding company active in production and sale of electricity, thanks to the design, construction and operation of plants powered by renewable sources. PLT energia group oversees internally, through dedicated companies, the design and development of systems, management, maintenance and sale of energy to the final customer, in a logic of a vertical integration through an integrated approach to the renewables business.

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