French company, REDEN Solar, has successfully completed the refinancing of its Portuguese and Spanish assets, raising a total of € 100.5 million ($116.3 million) in the process.
Courtesy of REDEN Solar
This transaction takes the form of a 14-year non-recourse financing arranged by Natixis. It restructures 13 historic loans contracted with five banks and involves around fifty photovoltaic power plants in operation in Portugal and Spain.
Thierry Carcel, President of the REDEN Solar Group, said, "This refinancing operation was largely facilitated by the international reach of the Natixis Group, which enabled them to coordinate teams in three different countries and deal with the broad scope and complexity of the operation.”
For this operation, REDEN Solar was advised and assisted by the Paris, Lisbon and Madrid teams of the Cuatrecasas firm.