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Solör Bioenergy secures a SEK 22 billion long-term financing

Solör Bioenergy secures a SEK 22 billion long-term financing
Solör Bioenergy Group is a leading Nordic player in renewable energy based on wood fuels (photo courtesy Solör Bioenergy Group).

In Sweden, Solör Bioenergy Group, a leading player in renewable energy based on wood fuels, has announced that it has completed a SEK 22 billion (≈ EUR 1.97 billion) long-term financing for the entire group. The new group finance is based on an investment grade rated Common Terms Agreement with international banks and institutional investors to further strengthen the Group’s M&A strategy.

Solör Bioenergy Group has completed a refinancing of its existing facilities. The financing structure includes a Senior Common Terms Agreement, a MidCo Common Terms Agreement as well as a Junior Facility.

Solör Bioenergy Group secured a substantial Capex Facility as well as a Revolving Credit with a total amount of SEK 4 billion (≈EUR 357.8 million).

We have secured access to liquidity for our M&A strategy within renewable district heating. With this milestone, we will be able to continue our growth strategy and strengthen our position as a leading provider of district heating in the Nordics. We own and operate renewable district heating power plants in 116 municipalities in Sweden and 65 municipalities in Norway, and we deliver safe and renewable energy to the highest ESG standards, said Martinus Brandal, Chairman and CEO of Solör Bioenergy.

CIBC and ICECAPITAL acted as financial advisers on the transaction.

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