€175,000,000 multicurrency secured uncommitted revolving credit facility
Trailstone Group (“Trailstone”) is pleased to announce the successful signing of its €175,000,000 multicurrency secured uncommitted revolving credit facility for use by Trailstone Renewables GmbH.
The facility was arranged by ING Bank N.V., who acted as sole arranger, security agent, facility agent and fronting bank. The structure of the facility follows the green loan principles and is supported by a consortium of banks including Credit Suisse (Switzerland) Ltd., MUFG Bank (Europe) N.V., Rabobank, Société Générale, and Tokio Marine HCC.
The facility will refinance Trailstone’s existing €150,000,000 multicurrency secured uncommitted revolving credit facility and will also be used to finance Trailstone’s market leading European renewable asset management business as it continues to expand its offering across Europe increasing the number of megawatts under management.
The facility, which launched at €150,000,000, was significantly oversubscribed, evidencing Trailstone’s strong support from its global bank group.
John Redpath, chief executive officer of Trailstone, said: “We are delighted to have renewed our European green financing facility and, in doing so, received increased levels of interest from both our existing lenders and new participants. We look forward to working with the syndicate to support Trailstone Renewables in continuing to lead the global transition to sustainable energy.”