PRESS RELEASE
Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world’s leading and fastest-growing independent producers of exclusively renewable energy, announces the signing of its first syndicated loan for an amount of 200 million euros. This financing is made of:
– a 125 million euros amortizing loan, and
– a 75 million euros revolving credit facility.
These two tranches will mature on July 31, 2024. This transaction will strengthen the Group’s financial resources in support of its growth strategy. In particular, it will contribute to future investments in the development of new projects.
Neoen chose to link this financing to two ESG criteria which are in line with its commitments: corruption prevention and an independent ESG rating by Vigeo Eiris agency. The loan’s pricing will be adjusted according to Neoen’s ESG performance, which will be assessed on an annual basis.
Xavier Barbaro, Neoen’s Chairman and Chief Executive Officer, commented: « The success of this first syndication shows our banking partners’ confidence in the robustness of Neoen’s business model. This transaction, concluded under favourable conditions, will contribute to financing our growth. It also shows our willingness to combine both financial performance, environmental exemplarity and social responsibility. We are proud to give shape, thanks to our projects, to a sustainable finance model. »
The legal firms De Pardieu Brocas Maffei and Hogan Lovells respectively acted as Legal Advisors to Neoen and to the banks.
State-owned wind farm marks a "huge few weeks of milestones" including delivery of transformers, erection…
Plans for one of the nation's biggest new gas plants join the queue for federal…
Regulator says two individuals banned from installing solar PV and home batteries under the SRES…
Squadron's latest wind project located just outside of crowded renewable zone, and will seek to…
Developers say splitting up EPC contracts for giant wind projects is saving money and lowering…
CSIRO says nuclear power is "most expensive in each case" of its modelling, with a…