Photo from Zenith Energy.
Zenith Energy completed A$440m five-year syndicated debt facilities which will support its new generation projects and expansion in the urban and remote microgrid sector.
In a statement, Zenith, which delivers renewable power technologies and supports lower emission solutions for mine site energy supplies, said the facilities will also provide a flexible platform to increase committed limits.
The Facilities will also enable the company’s expansion of its lender relationships through an accordion feature.
Zenith said the debt facilities were signed with Westpac Banking Corporation, National Australian Bank, Sumimoto Mitsui Corporation, BNP Paribas, Australia and New Zealand Banking Group, and Aware Super.
“Establishing a group of Tier 1 domestic and international lenders provides Zenith with additional funding certainty, alongside the long-term capital provided by our institutional shareholders (Pacific Equity Partners, Foresight Group and OPTrust) who collectively have over A$55 billion of funds under management,” said Managing Director and CEO Hamish Moffat.
“This facility further supports Zenith’s leading role in decarbonising the mining industry,” he added.
