Berlin, 8 December 2020 – TrailStone Group today announced the successful signing of a EUR 150m multicurrency secured uncommitted revolving credit facility for use by TrailStone Renewables GmbH, arranged by ING and 5 other syndicate banks.
The Facility was arranged by ING Bank N.V., who acted as sole Coordinator, Sustainable Coordinator, Security Agent, Facility Agent and Fronting Bank. The structure of the Facility follows the Green Loan Principles and is supported by the consortium of banks.
The Facility will refinance TrailStone’s existing EUR 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 expands its offering across Europe and increases the number of megawatts under management.
The Facility, which launched at EUR 125,000,000, was significantly oversubscribed, evidencing TrailStone’s strong support from its global bank group. In general syndication Credit Suisse (Switzerland) Ltd.,MUFG Bank Ltd., Rabobank, Société Générale, and Tokio Marine HCC joined the Facility.
John Redpath, chief executive officer of TrailStone Group, 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.”