Waga Energy, a player in renewable natural gas (RNG) production from landfills, has announced the signing of a €100 million corporate syndicated loan with a consortium of five leading banking groups.
This inaugural loan, with a three-year maturity extendable to five years, aims to accelerate Waga Energy’s international expansion, particularly in the United States, while bolstering the group’s financial structure.
The ‘green’ loan classification aligns with European green taxonomy standards, earmarked specifically for projects contributing significantly to climate change mitigation and supporting decarbonisation efforts. According to Waga Energy, the transaction received strong interest, being oversubscribed by the consortium which includes Groupe BPCE, Groupe Crédit Agricole, Arkéa Banque Entreprises & Institutionnels, BNP Paribas, and Société Générale.
Natixis is serving as the Documentation Agent and Loan Agent, with Crédit Agricole CIB and Crédit Agricole Sud Rhône Alpes acting as ‘green’ coordinators for the loan. Jean-Michel Thibaud, Waga Energy’s CFO and Deputy CEO, expressed confidence in the financing’s affirmation of their business model, emphasizing the robustness of their asset-driven cash flow generation.
Redbridge Debt & Treasury Advisory provided financial advisory support to Waga Energy, while Jones Day acted as legal counsel. The lenders were advised by Hogan Lovells in this significant financial transaction aimed at advancing Waga Energy’s strategic goals in the renewable energy sector.
