Arise Wind HoldCo 9 AB with subsidiaries (the "Sub-group"), wholly-owned by
The refinancing will dramatically reduce the group's total financing costs, which on a yearly basis are expected to decrease from close to MSEK 60 to approximately MSEK 25, incl. interest cost relating to the Company's convertible bonds, IFRS 16 items and accrued arrangement fees. Financing costs for the group's own wind power production, which is consolidated in the Sub-group, is expected to decrease from approximately MSEK 42 to approximately MSEK 8, incl. IFRS 16 items amounting to approximately MSEK 2 and accrued arrangement fees.
After the refinancing, the group's own wind power production is expected to be cash flow break-even (including interest cost and scheduled debt amortisation) at an average all-in income of approximately
In connection to the refinancing, the Company will cancel a SEK denominated interest rate swap. Coupled with dissolution of previous arrangement fees relating to the Bonds, this will result in a one-off charge impacting pre-tax profit by approximately MSEK -35, of which approximately MSEK -33 already has been recognised in group equity in accordance with IFRS 9.
Redemption of the Bonds and cancellation of the interest rate swap will be financed through the Loan and available cash at hand. Closing of the refinancing is expected to occur on
"We are very pleased to refinance and significantly decrease the financing costs of our wind power production. Successful project transactions over the last few years have allowed us to finally be able to put in place a flexible and cost-efficient financing. Along with the previously communicated extension of service-life and new service agreements for our
Halmstad,
For further information, please contact:
Linus Hägg,
This information is such information as
About Arise
Arise is one of
E-mail info@arise.se, www.arise.se
https://news.cision.com/arise-ab/r/arise-to-refinance-existing-secured-bonds,c3196600
https://mb.cision.com/Main/707/3196600/1307904.pdf
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