Womble Bond Dickinson (WBD) has advised The Renewables Infrastructure Group Limited (TRIG), the listed UK and European renewables fund, on the refinancing of seven UK onshore wind farms, which are operationally managed by RES.
The refinancing involved an improvement in the commercial terms over the existing facilities, and an increase to the tenor, though debt is repaid within the subsidy period. KfW IPEX-Bank, which was one of three existing lenders alongside BNP Paribas and Lloyds, was sole lender of GBP 195mm in senior term facilities which closed on 31st October.
A multidisciplinary WBD team advised on the transaction, led by finance partner Graham Jeffries, working with corporate partner Sebastian Briggs, energy partner Christopher Towner and finance associate Tom Johnson.
Graham Jeffries of WBD commented:
"This significant refinancing demonstrates the continued strong demand from the finance community for renewables projects. We are delighted to have advised TRIG on this important transaction; our strong renewables, banking and corporate credentials ensured that we were able to provide a full service offering."
Ranking in the UK's top 20 law firms, WBD provides comprehensive legal service to clients across a wide range of sectors, from eight cities across the UK, including London, and 18 offices in the US. Since the earliest renewables projects over 25 years ago, the firm has advised key energy sector clients ranging from leading independents to major utilities and infrastructure funds.