We are pleased to announce we have arranged a new £30.0 million Revolving Credit Facility (“RCF”) with NatWest Bank.
The £30.0 million secured, interest only RCF has an initial three-year term and a one-year extension option at a margin of 1.30% over SONIA. The RCF also includes a £20.0 million uncommitted accordion option which is exercisable at any time over the initial term.
Gurpreet Gujral, Managing Director of Atrato Group, said:
“This new Revolving Credit Facility will underpin the next stage of the Company’s growth, providing the financial flexibility to capitalise on its significant pipeline of opportunities.
“The attractive margin of 1.30% reflects the Company’s highly contracted income and low sensitivity to wholesale power prices.”
Alex Jones, Director of Infrastructure and Project Finance at NatWest Group, said:
“We are absolutely delighted to have been able to support Atrato Onsite Energy plc, one of the largest investors in commercial rooftop solar in the UK, with its first revolving credit facility.
“NatWest Group has committed to providing £100.0 billion of funding by 2025 to support the UK’s transition to a net-zero economy and this investment represents another step forward in our aim to help businesses reduce their carbon emissions and take advantage of the growth opportunities associated with a low carbon economy.”