Spanish fund Q-Energy issues bond to refinance 74.7 MW of PV parks
Solar array. Author: U.S. Department of Agriculture .
Q-Energy, the renewables-focused fund of Madrid-based asset manager Qualitas Equity Partners, and its investment vehicle FSL Solar SL have issued a EUR-304-million (USD 340.5m) bond to refinance a portfolio of photovoltaic (PV) parks in Spain.
The portfolio contains eight plants with 74.7 MW of combined installed capacity.
According to the issuers’ legal advisor Watson Farley & Williams (WFW), the private placement issuance was subscribed by institutional investors managed by UK-based Pension Insurance Corporation Plc.
The bonds will be traded on the quotation board of the Frankfurt stock exchange.
Spanish banks Banco Santander SA (BME:SAN) and Banco de Sabadell SA (BME:SAB) acted as mandated lead arrangers, while the transaction was guaranteed by Assured Guaranty (Europe) Plc.
Q-Energy has developed more than 2 GW of PV and concentrated solar power (CSP) assets across the globe, investing over EUR 3 billion of debt and equity, according to WFW.
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