REG - US Solar Fund PLC US Solar Fund - USFP - Update on Refinancing

Us Solar FundAnnouncement

14/01/2025 07:00

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RNS Number : 1318T  US Solar Fund PLC  14 January 2025

14 January 2025

 

US Solar Fund PLC

("USF", or the "Company)

 

 

 

 UPDATE ON REFINANCING

 

USF is pleased to provide an update on the proposed refinancing of its senior
debt facilities (the "Proposed Refinancing"), further to previous
announcements.

The Investment Manager has conducted a thorough process and reviewed a wide
range of options which can achieve the key objectives of the Proposed
Refinancing (as outlined below). Following the Board's review during Q4 2024,
the Investment Manager continues to take this process forward. Subject to
market conditions, the Company aims to complete the refinancing prior to the
release of its Annual Results for the year ending 31 December 2024 (expected
in April 2025). Further details will be provided at that time.

The key objectives of the Proposed Refinancing remain as follows:

♦     extension of the amortisation profile of existing debt to improve
near-term operational cash dividend coverage and financial returns to
shareholders;

♦     availability of upfront proceeds to support the further return of
capital to shareholders;

♦     ensuring the robustness of the Company's balance sheet and ability
to meet its future obligations; and

♦     enhancing the profile of the portfolio for current and prospective
shareholders.

 

ENDS

 

 

For further information, please contact:

 

 US Solar Fund                      +44 20 7939 0550

 Meredith Frost (Amber)

 Cavendish Capital Markets Limited  +44 20 7397 8900

 Tunga Chigovanyika

 KL Communications                  +44 20 3882 6644

 Charles Gorman

 Charlotte Francis

 Amy Levingston Smith

About US Solar Fund plc

US Solar Fund plc, established in 2019, listed on the premium segment of the
London Stock Exchange in April 2019. The Company's investment objective is to
provide investors with attractive and sustainable dividends with an element of
capital growth by owning and operating solar power assets in North America and
other OECD countries in the Americas.

The solar power assets that the Company acquires or constructs are expected to
have an asset life of at least 30 years and generate stable and uncorrelated
cashflows by selling electricity to creditworthy offtakers under long-term
power purchase agreements (or PPAs). The Company's portfolio currently
consists of 41 operational solar projects with a total capacity of 443MWDC,
all located in the United States.

Further information on the Company can be found on its website at
http://www.ussolarfund.co.uk (http://www.ussolarfund.co.uk) .

 

About Amber Infrastructure Group

Amber Infrastructure Investment Advisor LLC, a subsidiary of the Amber
Infrastructure Group, was appointed as the Company's Investment Manager on 1
December 2023.

Amber Infrastructure (Amber) is an international infrastructure specialist,
focused on investment origination, development, asset management and in
Europe, fund management. Amber's core business focuses on infrastructure
assets across the public, transport, energy, digital and demographic
infrastructure sectors that support the lives of people, homes and businesses
internationally.

Among other funds, Amber Infrastructure advises International Public
Partnerships, a FTSE 250-listed Company with a market cap of approximately
£2.4 billion and 15-year track record of long-term investment in
infrastructure assets globally. Amber is headquartered in London with offices
in Europe, North America and Australia and employs c.180 infrastructure
professionals. Amber has had a strategic partnership with the Hunt Companies,
Inc. in the US since 2015 and completed their previously announced strategic
transaction with Boyd Watterson in August 2024.

Learn more at www.amberinfrastructure.com (http://www.amberinfrastructure.com)
.

 

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