Back
Luxembourg, 21 July 2015 – The Marguerite Fund announced today that it has reached financial close on the refinancing of the 36 MW Massangis solar photovoltaic (PV) Project.
The transaction involves the refinancing of the EUR 107 million Term Loan Facility raised to fund the construction of a 36 MW ground-mounted solar photovoltaic project, part of a larger site of 56 MW developed and constructed by EDF Energies Nouvelles. The project was acquired by Marguerite in May 2012.
The refinancing has been arranged by Crédit Agricole Corporate and Investment Banking, acting as Mandated Lead Arranger and Agent of the financing, together with Unicredit AG and Triodos. Marguerite was able to successfully procure amended pricing and repayment terms to reflect the improved lending market conditions and excellent performance track record of the asset.
The Project was completed on time and budget and started operations in April 2013. The Project is situated near the city of Auxerre in Burgundy.