trending Market Intelligence /marketintelligence/en/news-insights/trending/6reffNUnccMOYm2gVZ0qbQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Foresight Solar completes £245M refinancing of UK portfolio

A Utility Company Efficiently Sharpens Its Focus on the Credit Risk of New Customers

S&P podcast - Coronavirus pandemic, oil price crash shake up energy sector

Case Study: A Utility Company Efficiently Sharpens Its Focus on the Credit Risk of New Customers

Energy Evolution Podcast

Energy Evolution Why solar energy could get even cheaper

Foresight Solar completes £245M refinancing of UK portfolio

Foresight Solar Fund Ltd. has completed a £245 million debt refinancing for a 321-MW portfolio in the U.K.

The portfolio consists of 28 operating solar photovoltaic assets in England and Wales, according to an Aug. 5 news release.

The financing comprises a £170 million term loan facility due March 2036, a £65 million revolving credit facility and a £10 million debt service reserve facility.

Foresight said the term loan facility from Landesbank Hessen-Thüringen Girozentrale and Sumitomo Mitsui Banking Corp. will be used to partially refinance asset-level debt facilities expiring in September. The all-in annual cost of debt on the term loan is approximately 230 basis points, it said.

The three-year revolving credit facility from National Westminster Bank PLC will replace an existing £65 million facility entered into in 2017.

Following this transaction, Foresight Solar Fund's total outstanding debt is £511.3 million, equating to approximately 46% of the gross asset value of the company and its subsidiaries. The total outstanding long-term debt, excluding revolving credit facilities of £406.3 million, is 37% of gross asset value.

Watson Farley & Williams advised the consortium of lenders on the refinancing.