ContourGlobal obtains EUR-50m revolving credit line

ContourGlobal Power Holdings SA, a power generation company with a substantial renewable energy portfolio, announced today it has secured a new EUR-50-million (USD 59.9m) corporate revolving credit line.

The new facility, maturing in September 2020, replaces a previous one of USD 30 million (EUR 25m), which is due in March 2018. BNP Paribas and Goldman Sachs provided the new credit line, the company said, without giving more information.

The announcement comes a couple of weeks after Bloomberg reported that ContourGlobal LP planned to pursue an initial public offering (IPO) on the London Stock Exchange in a move that could fetch up to USD 1 billion. People familiar with the matter told the news agency at the time, that US investment banks JPMorgan Chase & Co and Goldman Sachs are assisting the company with the process.

ContourGlobal says it runs 69 plants that generate power from fossil fuels and renewable energy sources, with a combined capacity of about 4,100 MW. These power stations are located in 19 countries in Europe, Africa and Latin America. The renewables portfolio alone exceeds 1,500 MW and includes wind, solar and hydropower plants.

(EUR 1.0 = USD 1.198)

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