"Redbridge added significant value by proposing a number of new features that made our RCF more flexible and innovative. They also played a key role as our sparring partner throughout the process."
Assignment overview
- Redbridge helped Voltalia in the negotiation of a new sustainability-linked loan to expand its corporate financing capacity
Objectives
- Increase the amount of the Group’s total available credit facilities
- Facility utilization as flexible as possible
- Revisit/enlarge the pool of lenders with banks active in the countries Voltalia operates in
- Maintain the current Sustainable Program in the new facility and update its objectives
Results
- Facility amount of €170m with an accordion feature so that it can be increased by up to €150m
- Doubled the amount of corporate bank financing
- Five-year maturity, with two-year drawing period for the term loan
- Improved flexibility, with the additional indebtedness limit increased significantly
- Indexation of the margin in line with the Group’s CSR objectives
- Pool extended to three new banking partners
Methodology
- Management of the consultation with banks and providing support in the negotiations of the terms and conditions of the new syndicated credit facility
- End-to-end management of the existing credit facilities waiver process prior to a convertible bond issuance
- Closely following the syndication process
Value added by Redbridge
- Comprehensive project management in collaboration with the finance department
- Helped Voltalia identify negotiation points in the credit documentation and structure of fees
- Improved liquidity and flexibility
- Tailor-made process and personalized management of existing and potential lenders
- Client-centric, dedicated team throughout the process