PLT ENERGIA SPA PLT energia successfully concludes a financing transaction in the amount of 162,3 million Euro
Cesena, 23th October 2018- PLT energia, an Italian industrial holding operating in the renewable energy market, announces that the Group has concluded an hybrid financing transaction, consisted of a bond issue and a bank financing in favour of PLT wind S.p.A. (a company entirely controlled by PLT energia S.p.A.), aimed at, among others, refinancing a 9 wind farms for a total installed capacity of 110,6 MW.
The transaction has a financial structure which includes a bank loan and a project bond, both senior secured, for a total amount of 162,3 million euro.The bond, equal to 60 million euro and quoted at the ExtraMotpro segment of Borsa Italiana, is unrated and structured like a variable-rate single tranche and it has been completely provided by certain international institutional investors.
The bond, whose maturity is on 31th December 2033, pays a margin equal to 3,03% while the bank loan pays a margin of 2,1%, both over the Euribor 6m.
An IRS acts on the 75% of the total notional value in order to cover the interest-rate risk.
Eleonora Tortora, CEO of PLT Energia commented:
"The complexity of this transaction has been supported by the high level of expertise as well as by the team which the Group can rely on and, thanks to its good assets and its business model, the investor demand has allowed to conclude the transaction in the expected amount
Cesena, 23th October 2018- PLT energia, an Italian industrial holding operating in the renewable energy market, announces that the Group has concluded an hybrid financing transaction, consisted of a bond issue and a bank financing in favour of PLT wind S.p.A. (a company entirely controlled by PLT energia S.p.A.), aimed at, among others, refinancing a 9 wind farms for a total installed capacity of 110,6 MW.
The transaction has a financial structure which includes a bank loan and a project bond, both senior secured, for a total amount of 162,3 million euro.The bond, equal to 60 million euro and quoted at the ExtraMotpro segment of Borsa Italiana, is unrated and structured like a variable-rate single tranche and it has been completely provided by certain international institutional investors.
The bond, whose maturity is on 31th December 2033, pays a margin equal to 3,03% while the bank loan pays a margin of 2,1%, both over the Euribor 6m.
An IRS acts on the 75% of the total notional value in order to cover the interest-rate risk.
Eleonora Tortora, CEO of PLT Energia commented:
"The complexity of this transaction has been supported by the high level of expertise as well as by the team which the Group can rely on and, thanks to its good assets and its business model, the investor demand has allowed to conclude the transaction in the expected amount
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PLT energia S.p.A. published this content on 26 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 October 2018 14:11:07 UTC
