De Pardieu Brocas Maffei has advised CA CIB on the setting up of a €22M Euro PP Green financing for Reden Solar in addition to its 1st Euro PP Green dated December 2019.
The transaction was again arranged by Crédit Agricole CIB, one of the world leaders in the Green, Social and Sustainability Bonds market, in collaboration with Caisse régionale de Crédit Agricole Aquitaine (regional bank).
This private placement has the same characteristics as the first issue, with a maturity of 5.5 years, issued in two tranches, a bullet tranche and an amortising tranche. It has a fixed coupon and was placed with the same French investors as the first tranche: Zencap Asset Management, Banque Palatine, Caisse régionale de Crédit Agricole Aquitaine and Caisse régionale de Crédit Agricole du Languedoc.
The transaction is again part of the implementation of a Green Finance Framework allowing Reden Solar to issue debt. The financing is exclusively dedicated to the financing and/or refinancing of investments in solar projects.
The Reden Solar Group operates 600 solar power plants with a combined installed capacity of 615 MW.