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DC Advisory advises Ventient Energy on its €2.6bn debt refinancing

Background

  • Ventient Energy (Ventient) is a pan-European renewable energy business and is one of the leading independent generators of renewable energy in Europe
  • Ventient is one of the largest non-utility onshore wind generators in Europe, with approximately 2.8 GW of installed capacity and +140 onshore wind farms

Process

  • DC Advisory was appointed financial advisor by Ventient in connection with their debt refinancing in order to refinance the existing capital structure, streamlining the existing facilities to facilitate growth
  • Significant analysis was undertaken on refinancing options, including how the funding costs in the higher rate environment interacted with the existing hedging and how this impacted the recommended strategy
  • DC Advisory supported Ventient throughout the process and successfully delivered a number of detailed work streams, including overall process management, financial modelling, debt and hedge structuring and documentation negotiations
  • A competitive financing process was run, assessing different structures and pools of liquidity across global bank lenders and private placement funds

Outcome

  • In December 2023, the debt was refinanced into one new €2.6bn common terms secured platform across six countries and over +140 separate assets 
  • The new financing moved away from traditional project finance principles to a more corporate style infrastructure platform that respects the growing nature of the company and allows additional assets to be easily added and financed
  • Financing was secured from both international bank and institutional lenders
  • This transaction demonstrates DC Advisory’s expertise in the Renewables Infrastructure sector, and further strengthens the firm’s experience in advising on complex transactions and infrastructure project financings

What to read next

Date
Sectors
  • Infrastructure
Deal type
  • Debt Advisory & Restructuring
Deal locations
United Kingdom
Deal team
Co-Head of DC Advisory’s Global Infrastructure Group
Co-Head of DC Advisory’s Global Infrastructure Group
Managing Director
Director
Director
UN SDG Activity
  • GOAL 7: Affordable and Clean Energy
  • GOAL 10: Reduced Inequality
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