Macquarie group, through Macquarie Infrastructure Debt Investment Solutions (MIDIS), has provided long-term debt to Capital Dynamics to support its portfolio of seven on-shore wind farms in the UK.
MIDIS has issued an 18 year loan for a total consideration of £60 million (US$94.1 million) to recycle equity capital across the 55 MW portfolio of seven wind farms, the exact location of which was not specified. The facility was made up of retail price index-linked and nominal debt.
Rory Quinlan, managing director of Capital Dynamic,s stated:
MIDIS offered an innovative structure allowing us to match our revenue streams and interest costs, as well as access a delayed drawdown facility to help us manage the financing of different projects within the portfolio.
Kit Hamilton, senior vice president at MIDIS, commented:
Onshore wind is one of the most established renewable technologies and we anticipate increasing interest from renewable energy businesses looking for loan structures to match their cash flow inflation profile.
Earlier this month,Macquarie Infrastructure Debt Investment Solutions (MIDIS) announced it had raised total commitments of £979 million for its UK inflation linked debt strategy.