RNS Number : 1973L
Atrato Onsite Energy PLC
04 September 2023
 

4 September 2023

LEI: 213800IE1PPREDIIZB62

 

Atrato Onsite Energy plc

(the "Company")

 

NEW REVOLVING CREDIT FACILITY

 

Atrato Onsite Energy plc (LSE: ROOF), the investment company focusing on clean energy generation, is pleased to announce that it has arranged a £30.0 million Revolving Credit Facility ("RCF") with NatWest Bank.

 

The £30.0 million secured, interest only RCF has an initial three-year term and a one-year extension option at a margin of 1.30% over SONIA. The RCF also includes a £20.0 million uncommitted accordion option which is exercisable at any time over the initial term.

 

Gurpreet Gujral, Managing Director of Atrato Partners, the Investment Adviser to Atrato Onsite Energy plc, said:

 

"This new Revolving Credit Facility will underpin the next stage of the Company's growth, providing the financial flexibility to capitalise on its significant pipeline of opportunities.

 

"The attractive margin of 1.30% reflects the Company's highly contracted income and low sensitivity to wholesale power prices."

 

Alex Jones, Director of Infrastructure and Project Finance at NatWest Group, said:

"We are absolutely delighted to have been able to support Atrato Onsite Energy plc, one of the largest investors in commercial rooftop solar in the UK, with its first revolving credit facility.

"NatWest Group has committed to providing £100.0 billion of funding by 2025 to support the UK's transition to a net-zero economy and this investment represents another step forward in our aim to help businesses reduce their carbon emissions and take advantage of the growth opportunities associated with a low carbon economy."

 

ENQUIRIES

 

Atrato Partners

Gurpreet Gujral

Christopher Fearon

 

+44 (0)77 959 75560

Berenberg

Gillian Martin

Ben Wright

Dan Gee-Summons

 

+44 (0)20 3207 7800

Kaso Legg Communications

Charles Gorman

Charlotte Francis

 

atrato@kl-communications.com

+44 (0)20 3995 6673

 

 

 

Notes to Editors

Atrato Onsite Energy plc (LSE: ROOF) is an investment company specialising in clean energy generation with 100% carbon traceability. The Company focuses on UK commercial solar, helping its corporate clients achieve net zero and reduce their energy bills.

 

The Company aims to provide investors with attractive capital growth and long dated, index-linked income, targeting a 5% dividend yield and a NAV total return of 8 - 10%(1). Its shares were admitted to trading on the premium segment of the Main Market of the London Stock Exchange on 23 November 2021. Atrato Partners Limited is the Company's Investment Adviser.

 

Further information is available on the Company's website, www.atratoroof.com.

 

(1) There is no certainty that these targets will be achieved.

 

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