SOLARIA ENERGÍA Y MEDIO AMBIENTE, S.A. (“SOLARIA”), (www.solariaenergia.com), the Spanish company founded in 2002 and listed in the Spanish Stock Exchange since 2007 hereby notifies that its subsidiary Solaria Energía Generación Renovable S.L. has reached an agreement as of today with DTL Corporación, S.L. to acquire 100% of the company Magacela Solar 1, S.A.U. for total Enterprise value amount of EUR 61.59 million.
Magacela Solar 1, S.A.U. is the owner of a 10 MW (10.9 MWp) solar photovoltaic plant in Magacela (Badajoz –Spain) financed through a project bond named “Senior Secured Notes 3,769% Magacela Solar 1, S.A.U.” trading in the Open Market (Freiverkehr) of the Frankfurt Stock Exchange. JB Capital Markets, S.V. acted as Global Coordinator and Bookrunner of the project bond issuance. This project bond was fully acquired by international institutional investors the 24th of July 2017. The main characteristics of this project bond are:
o Principal amount: EUR 47,100,000
o Maturity date: 30th of June 2037
o Coupon: 3,769% nominal annual
SOLARIA keeps on pursuing its plan focused on consolidating and growing its generation portfolio worldwide.
SOLARIA currently works actively in new development opportunities both in Europe and in Latin America that will enable to substantially increase the size of its generation portfolio currently of more than 72 MW.
SOLARIA also strives in minimising its cost structure, optimising the financing cost of its projects but also, in reducing recourse debt to the very minimum.