Law firm advises on £270m deal
A Bristol law firm has advised on a major deal in the renewable sector.
The team from Burges Salmon advised Octopus Renewables on refinancing its revolving credit facility.
The funding will be used for the repayment of facilities and to fund future acquisitions.
Octopus is a closed-ended investment company incorporated in England and Wales that builds and operates a diversified portfolio of Renewable Energy Assets in Europe and Australia.
Its investment objective is to provide investors with attractive and sustainable dividends, alongside capital growth. ORIT is managed by Octopus Renewables Limited (trading as Octopus Energy Generation), which is one of the largest renewable energy investors in Europe.
The committed £270.8 million RCF has been provided by a four lender club comprising Allied Irish Banks, National Australia Bank, NatWest and Santander.
ORIT expects to use the RCF to fund existing construction commitments, to repay short-term facilities within the group and for future acquisitions of new renewable energy assets.
The Burges Salmon team advising on the deal was led by partner Graham Soar and senior associate Alison Logan from the firm’s Banking and Finance team.
Graham Soar said: “We’re delighted to have worked again with ORIT, to help support its growth and accelerate the green energy transition.”
