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Solar Financing 2012-1 modifies RPI-linked note terms with holder
Chicago, Sept. 27 – Solar Financing 2012-1 plc requested, and has been granted, certain consents relating to its £40 million secured RPI-linked notes due 2039, according to a press release.
The original OpCo borrower, through the consent process, is able to lend to a connected entity with released funds £15 million until July 21, 2036 instead of distributing the released funds to its shareholders.
Additionally, the parent borrower will enter into a new supply of services agreement with Green National Ltd. on or before Jan. 30, 2022.
In return for the consents, the trustee will have a perfected security interest in the on-lending arrangement.
There will also be a mandatory prepayment provision, with other certain terms as relate to the new loan.
The sole noteholder gave consent to the changes.
Solar Financing 2012-1 is based in London.
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