Sonnedix announce completion of italian portfolio refinancing
14 December, 2016

MILAN, Italy – Sonnedix is pleased to announce the completion of the non-recourse refinancing of a portfolio of photovoltaic plants in Italy with a total installed capacity of 66.3MW at a total value of EUR 197.1 million.

“This refinancing is an important milestone as we deepen our presence in Italy, following several acquisitions in the past twelve months,” said Andreas Mustad, CEO of Sonnedix. “We have a long term commitment to the Italian market, and we look forward to further growth as we move into 2017.”

The financing included long-term bank debt, floating rate project bonds, and a debt service reserve facility. BNP Paribas (Corporate & Institutional Banking) and Natixis S.A., Milan Branch acted as Structuring Mandated Lead Arrangers and Bookrunners for both the project bond and the loan. UBI Banca S.p.A. and Siemens Bank GMBH were Mandated Lead Arrangers of the loan. Natixis S.A. also acted as Transaction and Facility Agent and UBI S.p.A as Account Bank.

Institutional financing was provided by BRIDGE (managed by Edmond de Rothschild), SCOR and La Banque Postale Asset Management. BNP Paribas Securities Services Milan Branch acted as NoteHolders’ Representative and as Security Agent.

Sonnedix was advised by Norton Rose Fulbright (legal) and EY (financial advisor). The lenders and bond investors were advised by Orrick (legal), EOS (technical), PWC (model audit), RSM Palea Lauri Gerla (corporate and tax advisory), and AON (insurance). The NoteHolders’ Representative and the Security Agent was advised by Ashurst.

ABOUT SONNEDIX

Sonnedix is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally. For more information about Sonnedix, please visit www.sonnedix.com

For further information please contact Hamir Patel on +44 203 544 4947 or hamir.patel@champollion.co.uk

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For media enquiries, please contact comms@sonnedix.com

About Sonnedix

Sonnedix Power Holdings Limited (together with its subsidiaries, “Sonnedix”) is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market.

Sonnedix develops, owns and operates solar PV plants for the long-term, in France, Italy, Spain, the UK, South Africa, Chile, Puerto Rico and Japan. Sonnedix currently has a total controlled capacity of more than 1.7GW and has over 870MW in operation across the countries where it operates.

For more information about Sonnedix, please visit www.sonnedix.com

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