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Macquarie closes €38M refinancing of Spanish solar portfolio debt

Macquarie Infrastructure Debt Investment Solutions, or MIDIS, has closed the €38 million refinancing of six operational solar plants in Spain.

MIDIS refinanced the existing debt with 21-year, amortizing, floating rate, senior secured bonds, and structured an orphan interest rate swap facility to support the transaction, provided by Goldman Sachs International.

Owned and managed by the European investor and asset manager Qualitas Energy, the solar farms have a combined installed capacity of 13.6 MWp, according to a Sept. 4 release.

Banco Sabadell and Santander served as arrangers. Goldman Sachs International provided the interest rate hedging to the issuer.

MIDIS, Macquarie Group Ltd.'s global infrastructure debt asset management business, has invested €2.1 billion of infrastructure debt since 2012 across more than 30 renewable energy projects with total installed capacity of approximately 6,800 MW.