Photosol

Photosol’s Strategic Financing With Inaugural Syndicated Facility

Challenge

Photosol, a dynamic player in the renewable energy sector, sought to establish a $125 million inaugural syndicated facility to refine the company’s debt structure. The goals were to accurately estimate the facility size, potentially refinance existing private placements, and align the debt structure with both company objectives and lender requirements, all while minimizing execution risks amidst market fluctuations.

Solution

Photosol partnered with Redbridge to craft an optimal debt structure and prepare a comprehensive information package to approach banks. This included an in-depth analysis of the business plan and credit profile, and meticulous management of the banking consultation process. Redbridge’s strategic negotiation tactics ensured an oversubscription, which provided Photosol with significant leverage in finalizing terms.

Results

The initiative culminated in the signing of a $125 million syndicated credit facility, comprising a $60 million term loan and a $65 million revolving credit facility. The terms negotiated provided competitive economic conditions, including refinancing of junior debt & legal documentation that supports Photosol’s development projects. The process expanded the banking pool & reduced legal constraints, allowing for robust financial growth & sustainable development.