Elgar Middleton advises JLEN on renewables portfolio refinancing

Elgar Middleton has advised JLEN on the refinancing of a 180MW combined wind and solar portfolio.

The transaction was structured as a single term loan at the holding company-level. Elgar Middleton acted as financial adviser to JLEN and arranged the £177 million senior debt package from lenders SMBC and National Australia Bank.

The new financing benefited from reduced margins, an extended tenor, and greater operational flexibility for JLEN.

The project consists of a combined portfolio of 146MW of wind farms and 34MW of solar assets, all spread across 14 sites.

Partner, Simon Middleton, commented:

“We are delighted to have continued our long-standing relationship with JLEN with this latest refinancing for an extremely prudent client that always seeks to protect the long term interest of their investors while delivering sustainable dividends.”

Muxin Ma, Investment Director at John Laing Capital Management commented:

“In Elgar Middleton, we found a diligent and pragmatic adviser who was instrumental in closing this transaction. Their financing expertise and modelling capabilities, combined with their project management guidance ensured we delivered the financial close in a timely manner. We greatly appreciated their support and look forward to working with them on future transactions.”

Contact

Simon Middleton 
simonmiddleton@elgarmiddleton.com
+44 207 099 6367