Astris Finance is pleased to announce the successful refinancing of a renewable portfolio in France, owned by French IPP UNITe.
The transaction consisted in the refinancing of a portfolio of French renewable assets, including three windfarms providing 23 MW of power and 27 hydro-electric assets producing 33 MW. Each asset has a PPA contract with EDF for all or part of its production. The projects are expected to produce 180 GWh of green energy, which is equivalent to the annual consumption of 38,000 households.
BPI France and Société Générale provided the EUR 68m senior financing facilities. This transaction enabled UNITe to refinance 32 loans provided by 9 different lenders, a leasing for one of the hydro assets and a EuroPP debt at Sponsor level. In addition, 10 swaps were unwound concurrently for the anticipated repayment of the existing debt.
Astris Finance acted as exclusive financial advisor to UNITe.