Abengoa Yield increases its credit facility by $290 million

Abengoa Yield has more than tripled its existing credit facility through an additional US$290 million of credit.

The company revealed that it has increased its existing US$125 million credit facility with a revolver Tranche B for an additional amount of US$290 million.

Tranche B was closed with Bank of America as global coordinator and joint bookrunner, HSBC as agent and joint bookrunner and Banco Santander, Citigroup, RBC, Barclays and UBS as joint bookrunners.

The facility will be used to finance future acquisitions as well as for general corporate purposes.

Javier Garoz, CEO of Abengoa Yield, has commented:

"This increase in our credit facility proves our solid financial position and provides us with flexibility to accomplish new acquisitions and deliver accretive growth to our shareholders."

Based in the UK, Abengoa Yield is a total return company that owns a diversified portfolio of contracted renewable energy, power generation, electric transmission and water assets in North America, South America and certain markets in EMEA.