REG - Bluefield Solar Inc. - Revolving Credit Facility Reduced and Extended

Bluefield Solar Income FundAnnouncement

30/05/2025 07:00

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RNS Number : 6934K  Bluefield Solar Income Fund Limited  30 May 2025

LEI: 2138004ATNLYEQKY4B30

30 May 2025

 

Bluefield Solar Income Fund Limited

('Bluefield Solar' or the 'Company')

 

Revolving Credit Facility Reduced and Extended

 

Bluefield Solar (LON: BSIF), the London listed UK income fund focused
primarily on acquiring and managing solar energy assets, announces it has
extended the term of its Revolving Credit Facility ('RCF' or the 'Facility')
from May 2025 to May 2027, reducing the commitment of the Facility from £210
million to £150 million, with the Facility also achieving Green Loan status.

 

The Company remains focused on reducing its short term debt, whilst managing
its development pipeline, with the reduced size of the committed extended
Facility reflecting this. In the current financial year (ending 30 June 2025)
to date, the Company has repaid £50.5 million of the RCF, with £133.5
million currently drawn. The Facility also has an uncommitted accordion
feature allowing it to be increased in size by up to a further £30 million.

The amended Facility is being provided by the Company's three existing RCF
lenders, these being RBS International, Santander UK and Lloyds Bank Plc. The
margin for the Facility is 1.85%, a reduction from the previous margin of
1.90%.

The combination of the decision to reduce the Facility commitment at this
time, and the improved margin, means that the total savings amount to c£1m
over the course of the two year extension.

The Company is also pleased to report that the amended and restated RCF has
achieved Green Loan status, which introduces enhanced monitoring and reporting
obligations in line with the Company's Green Financing Framework.

 

RBS International acted as Green Loan Co-ordinator and Sustainable Fitch has
provided its Second-Party Opinion on the Company's Green Financing Framework.
They consider transactions under this framework to be fully aligned with the
Loan Market Association, Loan Syndications and Trading Associations, and Asia
Pacific Loan Market Association's Green Loan Principles; concluding that their
Second-Party Opinion is that the framework's alignment is 'Excellent'. This is
the best possible rating awarded by Sustainable Fitch.

 

The Green Financing Framework underpins Bluefield Solar's sustainability
strategy and will play a key role in supporting the funding of its substantial
renewable energy development pipeline.

 

- Ends -

 

 For further information:

 Bluefield Solar Board                                 Tel: +44 (0) 1481 742 742

                                                     bluefieldteam@ocorian.com (mailto:bluefieldteam@ocorian.com)
 To be contacted via Ocorian

                                                     Tel: +44 (0) 20 7078 0020
 Bluefield Partners LLP (Company Investment Adviser)   www.bluefieldllp.com (http://www.bluefieldllp.com/)
 James Armstrong / Neil Wood / Giovanni Terranova

 Deutsche Numis (Company Broker)                       Tel: +44 (0) 20 7260 1000
 Tod Davis / Hugh Jonathan / Matt Goss                 www.dbnumis.com (http://www.numis.com/)

 Ocorian

(Company Secretary & Administrator)

 Chezi Hanford                                         Tel: +44 (0) 1481 742 742

                                                     www.ocorian.com (http://www.ocorian.com/)

 Media enquiries:                                      Tel: +44 (0) 20 7466 5000

Burson Buchanan (PR Adviser)                         www.bursonbuchanan.com (http://www.bursonbuchanan.com)
 Henry Harrison-Topham / Henry Wilson

                                                     BSIF@buchanan.uk.com (mailto:BSIF@buchanan.uk.com)

 

About Bluefield Solar

 

Bluefield Solar is a London listed income fund focused primarily on acquiring
and managing solar energy assets. Not less than 75% of the Company's gross
assets will be invested into UK solar assets. The Company can also invest up
to 25% of its gross assets into other technologies, such as wind and storage.
Bluefield Solar owns and operates a UK portfolio of 882.9MW, comprising
824.6MW of solar and 58.3MW of onshore wind.

 

Further information can be viewed at www.bluefieldsif.com
(http://www.bluefieldsif.com/)

 

About Bluefield Partners

 

Bluefield Partners LLP was established in 2009 and is an investment adviser to
companies and funds investing in renewable energy infrastructure.  It has a
proven record in the selection, acquisition and supervision of large-scale
energy assets in the UK and Europe.  The team has been involved in over £6.3
billion renewable funds and/or transactions in both the UK and Europe,
including over £1.9 billion in the UK since December 2011.

 

Bluefield Partners LLP has led the acquisitions of, and currently advises on,
over 100 UK based solar photovoltaic assets that are agriculturally,
commercially or industrially situated.  Based in its London office, it is
supported by a dedicated and experienced team of investment, legal and
portfolio executives.  Bluefield Partners LLP was appointed Investment
Adviser to Bluefield Solar in June 2013.

 

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