3i Infrastructure plc completes refinancing of ESVAGT

3i Infrastructure plc (“3i Infrastructure”) is pleased to announce that it has successfully completed a EUR 376 million refinancing of ESVAGT.

The refinancing comprises bank and institutional tranches with a spread of maturities of up to 10 years, as well as associated capex and revolving credit facilities. In conjunction with the refinancing, 3i Infrastructure and its ESVAGT co-shareholder, AMP Capital, have also each invested DKK 175m further equity (c. GBP 21m equivalent) into the business.

This new capital structure replaces the debt taken on at acquisition. Importantly, it also provides funding for further growth in ESVAGT’s offshore wind service business.

Phil White, Managing Partner and Head of Infrastructure at 3i Investments plc said, “This refinancing is an important strategic milestone for ESVAGT. It allows ESVAGT to continue to expand its offshore wind service business, increases ESVAGT’s financial flexibility and secures a competitive long-term cost of debt, with reduced future refinancing risk.”

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