Greenvolt increased the amount of the syndicated loan it announced to the market last week from 350 to 400 million euros.
In a statement to the Securities Market Commission (CMVM), the renewable energy company led by João Manso Neto reveals that two more financial institutions will participate in the operation compared to those initially announced.
The financing was announced last week, involving six entities: an institutional investor and five banks. Now the total number of entities involved rises to eight.
The “high interest” of the market in this financing was Greenvolt’s justification for increasing the loan amount.
“The reinforcement of financing reflects the confidence that financial institutions have in our strategy in the renewable energy sector. And it also highlights the benefits of having KKR as a reference shareholder”, commented João Manso Neto, in a statement.
The 400 million euros of the loan will serve to strengthen Greenvolt’s balance sheet and encourage the development of its project portfolio, particularly in the centralized production segment.
Greenvolt, which was born from the Altri group’s biomass business, has a portfolio of 9.3 gigawatts (GW) of wind, photovoltaic and battery projects, spread across 16 countries.
KKR controls Greenvolt, with an 84.87% position, with the remaining 15.13% dispersed on the stock exchange.
This Monday begins the subscription period for KKR’s public takeover offer (OPA) on the shares it does not hold, and which will allow minority shareholders to sell their shares in the renewable energy company for 8.31 euros per share. The offer will run until October 24th.
Greenvolt, with a market capitalization of 1.35 billion euros, is currently one of the five energy companies on the Portuguese stock exchange (whose reference index, the PSI, has a total of 16 companies), along with EDP , EDP Renováveis, Galp and REN.
Source: expresso.pt
