![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nextenergy Solar Fund Limited | LSE:NESF | London | Ordinary Share | GG00BJ0JVY01 | RED ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.60 | -0.73% | 82.10 | 82.10 | 82.70 | 82.70 | 82.10 | 82.70 | 358,853 | 10:27:30 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 66.03M | 48.32M | 0.0818 | 10.11 | 488.61M |
TIDMNESF
RNS Number : 5651T
NextEnergy Solar Fund Limited
21 July 2015
21 July 2015
NextEnergy Solar Fund Limited ("NESF", or the "Company")
Project Finance Debt Facility
- NESF has signed a debt facility with NIBC Bank N.V. ("NIBC") for GBP22.7 million ("NIBC Facility")
- NIBC Facility has been employed to finance NESF's Cock Hill and Llwyndu projects and is fully drawn
- NESF also has currently drawn GBP24 million of the GBP31.5 million available under its revolving credit facility ("RCF") with Macquarie Bank Limited ("Macquarie")
- Total debt drawn under Macquarie RCF and NIBC Facility amounts to GBP46.7 million, with GBP7.5 million remaining available under the RCF
NESF is pleased to announce the closing of a debt facility of GBP22.7 million with NIBC. The NIBC Facility has been drawn down to finance NESF's Cock Hill (20.0MWp) and Llwyndu (9.4MWp) projects. The total investment value of the two projects amounts to GBP32.7million.
NIBC previously financed the construction of the two projects for the vendor from which NESF acquired them. The upfront costs to NESF favourably reflect NIBC's previous involvement in and knowledge of the two projects and the remaining terms of the facility are in line with current market conditions. The NIBC Facility has a 12-month duration, with a further 12-month extension available (which is not to be unreasonably withheld).
The Company has also started to make use of its RCF, having drawn down to date GBP24 million, which has been utilised to fund its previously announced acquisitions. The sum of drawings under both debt facilities amounts to GBP46.7 million.
Kevin Lyon, Chairman of NESF, commented:
"We continue to grow the Company's asset base and, as previously announced, are using existing and new debt facilities to fund the latest additions to our portfolio. We expect to continue to expand our debt funding sources.
NESF intends to refinance the debt facilities in due course either via the issuance of long-term debt products or via future placements of new shares in the Company."
For further information:
NextEnergy Capital Limited 020 3239 9054 Michael Bonte-Friedheim Aldo Beolchini Cantor Fitzgerald Europe 020 7894 7667 Sue Inglis Shore Capital 020 7408 4090 Bidhi Bhoma Anita Ghanekar Macquarie Capital (Europe) Limited 020 3037 2000 Ken Fleming Nick Stamp MHP Communications 020 3128 8100 Andrew Leach / Jamie Ricketts / Eleanor Mahmoud
Notes to Editors:
NextEnergy Solar Fund (NESF)
NESF is a specialist investment company that invests in operating solar power plants in the UK. Its objective is to secure attractive shareholder returns through RPI-linked dividends and long-term capital growth. The Company achieves this by acquiring solar power plants on agricultural, industrial and commercial sites.
NESF has raised equity proceeds of GBP246.6m since its initial public offering on the main market of the London Stock Exchange in April 2014. Its credit facilities include a two-year revolving facility of GBP31.5m from Macquarie and a GBP22.7 million facility from NIBC.
NESF is differentiated by its access to NextEnergy Capital Group (NEC Group), its Investment Manager, which has a strong track record in sourcing, acquiring and managing operating solar assets. WiseEnergy is NEC Group's specialist operating asset management division, providing solar asset management, monitoring and other services to over 1,200 utility-scale solar power plants with an installed capacity in excess of 1.5 GW.
Further information on NESF, NEC Group and WiseEnergy is available at www.nextenergysolarfund.com, www.nextenergycapital.com and www.wise-energy.eu.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAKXEAEESEFF
1 Year Nextenergy Solar Chart |
1 Month Nextenergy Solar Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions