Orrön Energy AB (“Orrön Energy” or “the Company”) is pleased to announce that it has entered into a revolving credit facility of MEUR 150 at attractive terms and conditions enabling a flexible capital structure.
The secured multi-currency revolving credit facility has a three-year maturity, with two subsequent one-year extension options. The floating interest rate margin is less than 2 percent above EURIBOR1. The credit facility also includes an additional MEUR 150 accordion option, adding increased capacity to finance future growth.
The structure of the credit facility provides a high degree of flexibility, allowing the Company to optimise its capital allocation structure and support its ambitious growth plans. The facility will replace the current MEUR 100 bridge financing facility entered into in August 2022.
The bank consortium consists of the Nordic banks DNB, Nordea, SEB and SpareBank 1 SR-Bank.
Espen Hennie, CFO of Orrön Energy comments:
“We are very pleased to announce the completion of our debt refinancing at attractive terms, which provides us with significant flexibility and ample headroom to fund both our current capital commitments and continue delivering on our growth strategy. The strong support received from our lenders is a testament to the quality of our portfolio of cash flow generating assets and future growth potential.”
