Gruenwald (26.02.2022/10:55) – Today, Pacifico Renewables Yield AG (ISIN: DE000A2YN371, Dusseldorf Stock Exchange: PRY, together with its subsidiaries “Group”) through a subsidiary signed a €35 million debut secured green loan private placement with UBS Asset Management. The fixed interest rate of the green debt instrument equals 4.85% and the tenor of the financing is five years from signing with a bullet repayment.
Roughly €26 million of the loan will be used to refinance existing debt, thereby optimizing the Group’s capital structure. Approximately €9.3 million thereof will be used to refinance an existing subordinated debt facility with an interest rate approximately 1% higher than the new financing. Further €16.5 million will be used to refinance the Group’s existing revolving credit facility, thereby replacing a short-term facility with a longer term loan facility. The remainder of the net proceeds will be used to finance the further build-out of the Group’s existing portfolio and new acquisitions. All net proceeds from the green loan will be used to finance and/or refinance investments in eligible green projects as described in Section 2.1 of the Group’s Green Finance Framework.
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