Fred.Olsen Renewables AS concludes a GBP 400 million refinancing and reduces cost of debt
Fred. Olsen Renewables AS, a company wholly owned by Bonheur ASA, through its 51% owned subsidiary, Fred. Olsen Wind Ltd., has today signed a non-recourse project finance facility with MUFG Bank, National Australia Bank, Siemens Bank and Sumitomo Mitsui Bank Corporation, to refinance its current debt facilities. The GBP 400 million new term loan will have a tenor of approximately 13 years, extending to 2032, with margins starting at 1.4%, increasing to 1.6% in 2023 and to 1.7% in 2028. New interest rate swap contracts will be agreed to match with approximately 75% of the underlying