Atlantica Yield plc:
Atlantica Yield Closes Green Project Financing
On May 7, 2020, Atlantica Yield plc (NASDAQ: AY) announced the closure of a green project financing agreement, securing approximately $143 million in net proceeds through a partnership with ING Bank and Banco Santander. This non-recourse financing will bolster Atlantica's financial position and facilitate investments in renewable assets, maintaining existing project debt agreements. The financing complies with the 2018 Green Loan Principles, supported by an unqualified Second Party Opinion from Sustainalytics.
- Secured approximately $143 million in net proceeds to finance renewable assets.
- Strengthens financial position and supports growth strategy without increasing corporate debt.
- Compliant with 2018 Green Loan Principles, enhancing ESG commitment.
- None.
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Atlantica Closes a Green Project Finance
May 7, 2020 – Atlantica Yield plc (NASDAQ: AY) (“Atlantica”), the sustainable infrastructure company that owns a diversified portfolio of contracted assets in the energy and environment sectors, announced today that a subsidiary holding company of certain solar assets in Spain has closed a green project financing agreement with ING Bank, B.V. and Banco Santander S.A.
This new non-recourse financing has resulted in net proceeds for Atlantica of approximately
"With the closing of this Green Loan, Atlantica has strengthened its financial position by leveraging once again its commitment to ESG. This new project financing will allow us to continue executing our growth plan while we limit our corporate debt” said Santiago Seage, Atlantica’s CEO.
The Green Finance was issued in compliance with 2018 Green Loan Principles. The methodology for the fund allocation process is defined in the “Framework” designed for green finance issuances and it is available in Atlantica’s website. The issuance was made with the support of an unqualified Second Party Opinion delivered by Sustainalytics, also published in Atlantica’s website.
ING Bank N.V. and Banco Santander, S.A. acted as Lenders, Bookrunners and Mandated Lead Arrangers to the transaction. ING also acted as Global Coordinator and Green Coordinator.
About Atlantica
Atlantica Yield plc is a sustainable infrastructure company that owns a diversified portfolio of contracted renewable energy, efficient natural gas, electric transmission and water assets in North and South America, and certain markets in EMEA (www.atlanticayield.com).
| Chief Financial Officer Francisco Martinez-Davis E ir@atlanticayield.com | Investor Relations & Communication Leire Perez E ir@atlanticayield.com T +44 20 3499 0465 |
