LONDON (ShareCast) - (ShareCast News) - Bluefield Solar Income Fund announced the financial close of a £187m long-term debt facility and a £30m short-term revolving credit facility on Tuesday.
The AIM-traded firm said the facilities will fully refinance the short-term £200m amended and restated facility agreement with the Royal Bank of Scotland plc and Investec Bank, which closed on 22 January.

"The Long-Term Facility will be provided by Aviva Investors in two tranches," Bluefield's board said.

"The first is a £125m fixed-rate long-term facility and second is £62m index-linked long-term facility."

Bluefield said both are fully amortising over 18 years, which matches the average remaining life of the company's regulated revenues.

"The long-term facility is held by the company's wholly-owned subsidiary, Bluefield SIF Investments, which maximises transparency, offers improved portfolio management flexibility and reduces costs compared to using project-level debt."

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