The credit facility consists of a four year bullet facility in the amount of US$125 million and was signed with a syndicate of five banks comprised by
The credit facility bears interest at Libor + 275 basis points, driving the weighted average cost of existing corporate debt to approximately 5.9%.
In addition, Abengoa Yield has closed the acquisition of Solacor 1/2 and PS10/20, the two largest assets within the US$312 million acquisition from Abengoa announced in September 2014. The first asset acquisition from Abengoa also includes Cadonal, a 50 MW wind farm, which we expect to close once the asset reaches commercial operation by the first quarter of 2015.
Abengoa Yield is a total return company that owns a diversified portfolio of contracted renewable energy, power generation and electric transmission assets in North America, South America and Europe. The firm focuses on providing a predictable and growing quarterly dividend or yield to its shareholders.