Cypress Creek Renewables closes USD-125m debt facility

Palmetto Plains solar park in South Carolina. Image by: Cypress Creek Renewables.

May 6 (Renewables Now) - US renewable energy developer Cypress Creek Renewables has closed a USD-125-million (EUR 116m) debt facility to further finance the growth of the company’s solar and storage pipeline.

The transaction was closed on May 3, providing the company with a revolving letter-of-credit and revolving working capital joint facility.

Investec served as a coordinating lead arranger alongside Credit Agricole, East West Bank, National Bank of Canada, Norddeutsche Landesbank, Silicon Valley Bank and Toronto-Dominion Bank.

This is the second such facility closed by Cypress Creek and Investec. It comes a few weeks after the solar projects developer also obtained USD 450 million in debt in a transaction with QIC as a joint lead arranger.

(USD 1.0 = EUR 0.928)

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