Voltalia carries out EUR-294m debt refinancing move

Renewable power plants operator Voltalia SA (EPA:VLTSA) has obtained EUR 294 million (USD 320.8m) in loans to refinance its existing debt in a move that will improve its financial flexibility and support its future expansion.

The debt was provided by a syndicate of 15 lenders, the French firm said in a bourse filing. Specifically, the package consists of a revolving credit line of EUR 176.4 million and a term loan totalling EUR 117.6 million. The debt’s maturity is in five years, while there is an option for this term to be extended by an additional two years.

Among the banks taking part in the transaction are BNP Paribas, CACIB, Mizuho Bank, and Natixis.

The syndicated funding will enable Voltalia to refinance its credit lines until 2026 and provide it with extra cash resources needed for the deployment of new renewable energy capacity. A portion of the funds will go for the repayment of EUR 250 million worth of convertible bonds issued in 2021 and 2022 and due in 2025.

“This new syndicated bank loan extends the average maturity of our corporate financing and strengthens our financial flexibility to support growth,” said CEO Sebastien Clerc.

(EUR 1.0 = USD 1.091)

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