• Swindon & Wiltshire News
• Monday March 6 2023
• Author Name: Peter Davison

Burges Salmon advises Octopus Renewables on refinancing of revolving credit facility

Bristol-based law firm Burges Salmon has advised long-standing client Octopus Renewables Infrastructure Trust (ORIT)on the refinancing of its multi-currency revolving credit facility (RCF).

ORIT is a closed-ended investment company incorporated in England and Wales that builds and operates a diversified portfolio of renewable energy assets in Europe and Australia.

Its investment objective is to provide investors with attractive and sustainable dividends, alongside capital growth.

ORIT is managed by Octopus Renewables Limited – trading as Octopus Energy Generation – which is one of the largest renewable energy investors in Europe.

The committed £270.8 million RCF has been provided by a four-lender club comprising Allied Irish Banks, National Australia Bank, NatWest and Santander.

ORIT expects to use the RCF to fund existing construction commitments, to repay short-term facilities within the group and for future acquisitions of new renewable energy assets.

The Burges Salmon team advising on the deal was led by partner Graham Soar (pictured) and senior associate Alison Logan from the firm’s banking and finance team.