March 17 (Renewables Now) - French renewable power producer Neoen SA (EPA:NEOEN) has agreed a EUR-200-million (USD 220m) loan to secure funds for future investments in the development of new projects.
The fresh financing comprises two tranches -- a EUR-125-million amortising loan and a EUR-75-million revolving credit line -- each maturing on July 31, 2024. The heavily oversubscribed transaction attracted a total of 14 lenders, with BNP Paribas, Natixis and Societe Generale serving as mandated lead arrangers and bookrunners and coordinators.
This first syndicated loan facility for Neoen is linked to two Environmental, Social and Governance (ESG) criteria: corruption prevention and an independent ESG rating by Vigeo Eiris agency.
Neoen has nearly 3 GW of renewable energy capacity in operation or under construction. Its target for end-2021 is to exceed 5 GW.
(EUR 1.0 = USD 1.099)