Elgar Middleton has advised TRIG, the Renewables Infrastructure Group Ltd (LSE:TRIG), on its £195m refinancing of a portfolio of seven onshore wind farms in the UK.
The transaction has been structured as a non-recourse portfolio financing, providing greater flexibility and simplified administrative and reporting requirements. TRIG also benefited from an improvement in the commercial terms over the existing financing and an increase to the debt tenor. KfW IPEX-Bank, one of three existing lenders alongside BNP Paribas and Lloyds, was the sole lender of GBP 195m in senior debt facilities.
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