Foresight Group’s Australian Renewables Income Fund (ARIF) has completed a A$700 million (EUR 390 million) debt refinancing across its portfolio of operating renewable energy assets, the company said on Tuesday.
The refinancing package includes a A$620 million term loan and an A$80 million multi-purpose facility, backed by a syndicate of lenders including ANZ, Westpac, Mizuho, HSBC and Bank of China. According to ARIF, the transaction aims to consolidate existing project debt and create a funding platform to support future investment.
“This refinancing marks a significant milestone for ARIF, reinforcing the strength and scale of our operating portfolio and establishing a funding platform to support future growth,” said portfolio manager Daniel Beaver. “ARIF aims to continue investing in high-quality businesses and assets supporting the energy transition across Australia and New Zealand, while maintaining our commitment to delivering attractive returns for our investors.”
The facility has been structured as a green loan in accordance with the Asia Pacific Loan Market Association’s Green Loan Principles, under ARIF’s Green Finance Framework. Proceeds will be used to refinance current project-level debt and advance the fund’s development pipeline.
ARIF currently manages a 787-megawatt portfolio comprising wind, solar and hydro projects, along with a pipeline of new development opportunities. RBC Capital Markets acted as financial adviser on the transaction, with W&C serving as borrower’s counsel.
