US energy firm Trailstone Group has signed a €175 million multicurrency secured uncommitted revolving credit facility for use by Trailstone Renewables GmbH.
The facility was arranged by ING Bank, which acted as sole arranger, security agent, facility agent, and fronting bank.
In a press statement, Trailstone said the structure of the facility aligns with the UK-based Loan Market Association’s (LMA) Green Loan Principles, and is supported by a consortium of banks including Credit Suisse (Switzerland), MUFG Bank (Europe), Rabobank, Société Générale, and Tokio Marine HCC.
The facility will refinance Trailstone’s existing €175 million multicurrency secured uncommitted revolving credit facility, and will also be used to finance Trailstone’s European renewable asset management business.
Trailstone is currently expanding its offering across Europe in order to increase its number of megawatts under management.
The facility, which launched at €150 million, was significantly oversubscribed, which Trailstone said is a reflection of the strong support it has received from its global bank group.
John Redpath, CEO of Trailstone, said: “We are delighted to have renewed our European green financing facility and, in doing so, we received increased levels of interest from both our existing lenders and new participants.”
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