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ACEN Australia secures $100m green loan
Clean energy company ACEN Australia has secured its first green loan facility, in a move to fund more renewable energy projects across the country.
Lauren Croft
Firm: Herbert Smith Freehills (ACEN Australia)
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Deal: Herbert Smith Freehills has advised ACEN Australia on its foundational corporate financing facilities, which comprise a new common provisions agreement and its first $100 million green loan facility with DBS Bank, Australia branch, as lender.
Value: $100 million
Area: Corporate
Key players: The Herbert Smith Freehills team was led by partner Gerard Pike and solicitors Andrew Julian and Hamish Cullity. The transaction involved assistance from the firm’s Singapore office from partner Rupert Baker and paralegal Fanny Lum.
Deal significance: The financing structure provides a platform for ACEN Australia to fund and facilitate its pipeline of renewable energy projects in Australia. It also includes the flexibility for ACEN Australia to enter into additional debt facilities in the future.
Commenting on the deal, Mr Pike said it was a “very exciting time for ACEN Australia with their excellent development pipeline of renewable energy and energy storage projects, and it has been a pleasure to advise them on their $100 million green loan”.
“We look forward to continuing our relationship with ACEN Australia and ACEN CORPORATION in Australasia and assisting them with their future projects,” he said.
