Elgar Middleton is pleased to have advised Bio Capital Limited (“Bio Capital”) on the £26m accordion financing of their UK-based AD portfolio.
Bio Capital Limited owns and operates anaerobic digestion (“AD”) plants in England, Scotland, and Northern Ireland.
The Company has carried out a number of operational enhancements of which the latest is the expansion of CO2 Recovery and Gas to Grid export capacity across the group. The £26m accordion facility will facilitate the funding of these and other capital optimisation projects.
This debt raise follows the original non-recourse financing successfully put in place in 2021, for which Elgar Middleton also acted as exclusive financial advisor to the Sponsors.
The accordion financing was supported by the existing lenders, being Allied Irish Banks (“AIB”), Banco de Sabadell (“Sabadell”) and NatWest Westminster Bank plc (“NatWest”).