By Angela McDaniels
Tacoma, Wash., Jan. 10 – MEP Werke GmbH placed a €30 million 20-year fixed-rate green loan with Delta Lloyd Asset Management, according to a news release from parent company Strasser Capital GmbH.
The loan is secured by a pool of 20-year residential solar lease receivables.
Hexagon Finance and Advisory Ltd. acted as joint arranger, and dwf acted as legal adviser.
This is the first tranche of the issuer’s green financing program, which will be used to refinance debt used to finance the scale-up of its solar lease portfolio. NIBC Bank Deutscheland AG structured the program.
The loan has been structured to meet the Climate Bonds Standards and is certified by the Climate Bonds Initiative.
The company said there has been no comparable financing structure for a solar lease portfolio in Europe to date.
NIBC Bank Deutscheland has granted MEP Werke a second senior loan warehouse facility to enable the further growth of the portfolio, after which a second fixed-rate financing product can be issued.
MEP Werke is an energy provider. Strasser Capital is a private equity firm that specializes in clean energy investments and financing solutions. Both are based in Munich.
| Issuer: | MEP Werke GmbH
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| Issue: | Fixed-rate green loan
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| Amount: | €30 million
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| Tenor: | 20 years
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| Joint arranger: | Hexagon Finance and Advisory Ltd.
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| Investor: | Delta Lloyd Asset Management
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| Announcement date: | Jan. 10
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