REG - Foresight Solar Fund - Revolving credit facility extended, resized

Foresight Solar FundAnnouncement

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RNS Number : 4927K  Foresight Solar Fund Limited  29 May 2025

29 May 2025

 

Foresight Solar Fund Limited

("Foresight Solar", "FSFL" or the "Company")

 

Revolving credit facility extended, resized

 

Foresight Solar, the fund investing in solar and battery storage assets to
build income and growth, announces it has extended and reduced its revolving
credit facility (RCF).

 

The multicurrency line has been resized to £100 million from the previous
£150 million and the maturity date has been extended by two years to 2028.
The lower commitment will result in fee savings of approximately £1 million
over the course of the facility.

 

The terms remain the same, with a margin of 190 basis points over SONIA for
sterling drawdowns and over EURIBOR for euro drawdowns. An uncommitted
accordion facility of up to £75 million is available for extra liquidity.

 

This flexible capital facility will continue to play a role in the delivery of
Foresight Solar's income and growth strategy, even if no longer as an equity
bridge. It also demonstrates lenders' ongoing support for the sector.

 

Today's initiative is part of FSFL's active balance sheet management, which
includes measures to reduce interest costs, minimise commitment fees and limit
refinancing risk. As an example of this proactive management, in 2024 the
Company saved approximately £440,000 in interest expense by optimising the
RCF drawdown to benefit from lower EURIBOR rates whilst simultaneously hedging
its foreign exchange exposure.

 

For more information, follow Foresight Solar on LinkedIn
(https://www.linkedin.com/showcase/foresight-solar/) or contact:

 

 Foresight Group                  +44 (0)20 3911 2318

 Matheus Fierro

 (fsflir@foresightgroup.eu)

 Jefferies International Limited  +44 (0)20 7029 8000

 Gaudi Le Roux

 Harry Randall

 Singer Capital Markets           +44 (0)20 7496 3000

 Alaina Wong

 Sodali & Co                      +44 (0)20 7250 1446

 Gilly Lock

 Madeleine Gordon-Foxwell

 JTC                              +44 (0) 1534 700 000

 Hilary Jones

 

LEI: 213800VO4O83JVSSOX33

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