REG - Coro Energy PLC - Credit Approval of up to $20m Senior Debt Facility

Coro EnergyAnnouncement

02/04/2026 07:00

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RNS Number : 1415Z  Coro Energy PLC  02 April 2026

2 April 2026

Coro Energy Plc

("Coro" or the "Company")

 

Credit Approval of up to US$20 million Senior Debt Facility

 

Coro Energy PLC, the South East Asian renewable energy developer, is pleased
to announce that it has received internal credit committee approval from a
leading global sustainable infrastructure investor in respect of a proposed
senior secured debt facility of up to US$20 million (the "Facility"). The
Facility remains subject to completion due diligence, finalisation of
documentation and satisfaction of customary conditions precedent which Coro
expects to be completed during H1 2026.

 

The investor is a well-established institutional capital provider with an
established track record in financing renewable energy and energy transition
infrastructure globally.

 

The proposed Facility comprises:

 

·    an initial committed tranche of up to US$10 million; and

·    an additional uncommitted accordion tranche of up to US$10 million,
subject to further approvals.

 

The Facility is expected to support the continued rollout of Coro's projects
with existing and new commercial and industrial customers in Vietnam including
the ability to finance battery energy storage systems.

 

Key Terms

 

The Facility is expected to be structured as a senior secured term loan with
the following principal terms:

 

 Structure        Senior Secured Term Loan
 Currency         US Dollars
 Tenor            8 years
 Use of proceeds  Funding of up to 70% of capital expenditure across a portfolio of contracted
                  rooftop solar and battery storage projects in Vietnam
 Security         Secured against the Company's Vietnam operating platform, including project
                  assets, contracts and cashflows

 

Tom Richardson, Chairman of Coro, commented:

 

"We are pleased to have reached this important milestone with a leading global
sustainable infrastructure investor for a significant long-term financing
facility. It is a validation of our platform and opportunity set in Vietnam
and potentially transformative for the Company. The agreed commercial terms
provide a strong foundation to support the continued scaling of our Vietnam
rooftop solar platform.

 

I am grateful to both teams for their efforts over the last six months to get
to this stage. We now look forward to progressing the Facility through
documentation and into deployment."

 

 

- ENDS -

For further information please contact:

 Cavendish Capital Markets Limited (Nominated Adviser)                                                                                                     Tel: +44 (0)20 7220 0500

 Adrian Hadden

 Ben Jeynes
 Tennyson Securities (Nominated Broker)                                                                                                                    Tel: +44 (0)20 4530 9239

 Peter
 Krens
 Vigo Consulting (IR/PR Advisor)                                                                                                                           Tel: +44 (0)20 7390 0230

 Patrick d'Ancona

 

 

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