Business Wire

Glennmont Partners Complete €190m Refinancing Of 245MW Italian Wind Portfolio

Jaa

Glennmont Partners has successfully completed the refinancing of SER for €190m, one of Italy’s largest operating wind portfolios, with 245 MW of installed capacity. The transaction is Italy’s first bond ever in the wind sector and is part of Glennmont’s ongoing activities to realise additional value from its operational assets. It follows last month’s successful refinancing of Glennmont’s Sleaford biomass plant in the UK for £150m.

The SER portfolio is made up of 231 wind turbines across Sicily and Puglia, all of which entered into operation between 2009 and 2012. The portfolio was acquired in June 2016. The refinancing has replaced part of the original project finance debt, from nine financing banks, with one bond listed in the ExtraMOT segment of Borsa Italiana, provided by certain investors managed and represented by a large financial institution. The transaction reinforces Glennmont’s reputation for providing attractive risk-adjusted returns to investors, based on predictable cash yields underpinned by regulated and contracted revenues.

Francesco Cacciabue, CFO at Glennmont Partners, commented: “We are delighted to complete our second major refinancing in a month. This transaction demonstrates Glennmont’s confidence in the clean energy sector across Europe as our investors enjoy an unprecedented yield from our funds’ assets. The increasingly sophisticated financing options open to clean energy asset owners give us the opportunity to realise large amounts of capital and to enhance the overall value of our funds. Investors can look forward to more of the same in the coming months”.

Claudio Vescovo, Investment Director at Glennmont Partners, said: “The complexity of this transaction was underpinned by the level of expertise here at Glennmont and we look forward to realising more value from our assets, both in Italy and further afield. We are pleased to have structured the first ever wind bond financing in the country leveraging on our in-house expertise. The strong demand from investors underlines the quality of the assets we invest in, which offer deep market potential and a balance of yields and returns”.

The refinancing was successfully arranged by Natixis and Unicredit acting as Structuring MLAs and Bookrunners which also provided a liquidity facility. DNV GL acted as the technical adviser, PwC as the tax adviser, and both Orrick Herrington & Sutcliffe and Gianni, Origoni, Grippo, Cappelli & Partners who provided legal advice to the borrower and lenders respectively.

Notes to Editors:

Glennmont Partners is one of Europe’s largest fund managers focusing exclusively on investment in clean energy infrastructure. It raises long-term capital to invest in alternative power generation projects, such as wind farms, biomass power stations, solar parks and small-scale hydro power plants. Its carefully selected, risk managed investments deliver sustained performance and predictable returns over periods of 10 years or more. Glennmont operates a portfolio of more than 840MW of mixed renewable energy generation offering investors a balance of yield and return. Based in London, the team has been working together since 2007, and has established a reputation for making intelligent, long-term investments that deliver absolute returns.

A short video introduction to the SER portfolio can be seen here: http://www.glennmont.com/news-media/asset-videos/.

Contact information

For Glennmont Partners
Harry Padfield
harry.padfield@lodestonecommunications.com
07896140920

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Lehman Brothers Treasury to Further Explore Strategic Opportunities15.10.2018 19:54Tiedote

Lehman Brothers Treasury Co. B.V. in liquidation (“LBT”) today, through its U.S. counsel Kramer Levin Naftalis & Frankel LLP, announced that the liquidators of LBT are continuing to explore various strategies to, among other things, facilitate the consolidation of the LBT creditor base and the wind-down of the LBT estate. To that end, the liquidators of LBT intend to engage with certain of LBT’s creditors and other market participants regarding potential strategies, including, but not limited to, a potential sale of a portion of LBT’s assets. No assurances can be made that any strategy will be employed, or if one is employed, the timing of its implementation. LBT does not undertake to publicly update its disclosure to reflect developments in this matter. View source version on businesswire.com: https://www.businesswire.com/news/home/20181015005777/en/ Contact information Kramer Levin Naftalis & Frankel LLP Daniel Eggermann, 212-715-9495

SFL – Third-Quarter 2018 Financial Information15.10.2018 19:28Tiedote

Regulatory News: SFL (Paris:FLY): Consolidated revenue by business segment (€000's) 2018 (9 months) 2017 (9 months) Rental income 143,790 147,819 o/w Paris Central Business District 119,038 114,326 Paris Other 22,479 21,526 Western Crescent 2,273 11,967 Other revenue 0 0 Total consolidated revenue 143,790 147,819 At €143.8 million, consolidated rental income for the first nine months of 2018 was down €4.0 million or 2.7% compared to the €147.8 million reported for the same period of 2017. The decline was due to the disposal of the IN/OUT property in September 2017, the effects of which were offset to a significant extent by growth in like-for-like income. On a like-for-like basis (excluding all changes in the portfolio affecting period-on-period comparisons), rental income was €6.0 million (4.6%) higher, reflecting the contribution of new leases signed in 2017 and 2018, mainly in the Washington Plaza, 103 Grenelle, Cézanne Saint-Honoré and 9 Percier properties, as well as an increase i

Hilton Earns #2 Spot as World’s Best Workplace15.10.2018 18:54Tiedote

For the third consecutive year, Hilton has been named as one of the World’s Best Workplaces recognized by Great Place to Work®. Hilton climbed seven spots to the highly coveted second spot on the list of the top 25 companies and is the only hospitality company in the top ten. Team Members from the world’s most hospitable company say Hilton’s culture, benefits and travel perks make it a great place for a career. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181015005711/en/ Hilton President & CEO Chris Nassetta with Team Members. (Photo: Business Wire) “Our Team Members are the heart of our business, and they have been the driving force behind our growth and success around the world for nearly 100 years,” said Christopher J. Nassetta, president & CEO of Hilton. “As the pioneers of hospitality, we are dedicated to creating exceptional experiences for every person we meet - and this starts with our Team Members, who make all o

IDEMIA Appoints Yann Delabrière as Group CEO15.10.2018 17:53Tiedote

The supervisory board of IDEMIA, the global leader in Augmented Identity, has appointed Yann Delabrière to be Chief Executive Officer with immediate effect taking over from Didier Lamouche who has resigned. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181015005635/en/ Yann Delabrière (credit Pierre Charriau/IDEMIA) One year after the successful coming together of Oberthur Technologies (OT) and Safran I&S (Morpho) that gave rise to IDEMIA, Yann Delabrière will be charged with overseeing a new phase in the Group’s growth. Yann Delabrière, who previously served as CEO of Faurecia followed by CEO of Zodiac Aerospace, was appointed IDEMIA’s supervisory board chairman in January 2018. Since then he has gained in-depth understanding of the Company’s operations and people. IDEMIA will now look to benefit from Yann’s extensive international managerial experience. Yann Delabrière stated: “I am delighted that the Supervisory Board is

9 in 10 Enterprises Report Gaps Between the Cybersecurity Culture They Have and the One They Want15.10.2018 16:35Tiedote

With cybersecurity threats continuing to escalate worldwide, the ISACA/CMMI Institute Cybersecurity Culture Report found that just 5 percent of employees think their organization’s cybersecurity culture is as advanced as it needs to be to protect their business from internal and external threats. More than 4,800 business and technology professionals shared their insights in the global research study, conducted via online polling in June 2018. Results were released today at ISACA’s CSX North America cybersecurity conference in Las Vegas. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181015005149/en/ New global research from ISACA and the CMMI Institute shows 95% of organizations say there is a gap between the cybersecurity cultures they have and the ones they want. (Graphic: Business Wire) Cybersecurity culture is a workplace culture in which security awareness and behaviors are integrated into everyone’s daily operations, a

AirFit F30, ResMed’s First Minimal-Contact Full Face CPAP Mask, Now Available in the U.S., Canada15.10.2018 16:05Tiedote

ResMed (NYSE: RMD, ASX: RMD) today announced the availability of its first minimal-contact full face CPAP mask, AirFit F30, the latest addition to its AirFit mask portfolio, which helps sleep apnea patients reduce facial marks, wear glasses in bed and curl up closer to their bed partner. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181015005185/en/ AirFit F30 full face CPAP mask: Side View (Photo: Business Wire) Availability AirFit F30 is available for sale now in the United States and Canada, and will be on display at the Medtrade Fall conference this week in Atlanta; visit ResMed’s Booth #2116. AirFit F30 fits 93 percent of patients,1 and features a minimal-contact cushion that sits just below the nose, preventing top-of-the-nose red marks and irritation, plus reducing feelings of claustrophobia for some full face wearers. It also has ResMed’s QuietAir vent, making the mask quieter than ambient noise in the bedroom. New

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme