REG - Atrato Onsite Energy - New Revolving Credit Facility

Atrato Onsite EnergyAnnouncement

04/09/2023 07:00

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RNS Number : 1973L  Atrato Onsite Energy PLC  04 September 2023

4 September 2023

LEI: 213800IE1PPREDIIZB62

 

Atrato Onsite Energy plc
(the "Company")

 

NEW REVOLVING CREDIT FACILITY

 

Atrato Onsite Energy plc (LSE: ROOF), the investment company focusing on clean
energy generation, is pleased to announce that it has arranged a £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 Partners, the Investment
Adviser to Atrato Onsite Energy plc, 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."

 

ENQUIRIES

 

 Atrato Partners           +44 (0)77 959 75560

 Gurpreet Gujral

 Christopher Fearon

 Berenberg                 +44 (0)20 3207 7800

 Gillian Martin

 Ben Wright

 Dan Gee-Summons

 Kaso Legg Communications  atrato@kl-communications.com

 Charles Gorman            +44 (0)20 3995 6673

 Charlotte Francis

 

 

Notes to Editors

Atrato Onsite Energy plc (LSE: ROOF) is an investment company specialising in
clean energy generation with 100% carbon traceability. The Company focuses on
UK commercial solar, helping its corporate clients achieve net zero and reduce
their energy bills.

 

The Company aims to provide investors with attractive capital growth and long
dated, index-linked income, targeting a 5% dividend yield and a NAV total
return of 8 - 10%((1)). Its shares were admitted to trading on the premium
segment of the Main Market of the London Stock Exchange on 23 November 2021.
Atrato Partners Limited is the Company's Investment Adviser.

 

Further information is available on the Company's website, www.atratoroof.com
(http://www.atratoroof.com) .

 

(1) There is no certainty that these targets will be achieved.

 

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