Småkraft signs an EUR 40 million loan agreement with reputable investors

Småkraft AS closed a new 7-year fixed rate loan with a club of renowned institutional investors on May 27th. The EUR 40m loan is issued by a wholly owned subsidiary of Chr Salvesen & Chr Thams’s Communications Aktieselskab and is secured with pledges in 18 power plants. The loan is non-amortising until 2030 with a fixed rate coupon.

“We welcome new bond investors to complement Nordic banks, green bonds and our other capital sources to secure investments in more renewable energy in the Nordics”, says CEO in Småkraft AS Terje Vedeler. “With this loan we have yet again experienced great financial support in line with our long- term vision: create renewable values for the next generation.

ABG Sundal Collier acted as manager for the debt financing. Thommessen and CMS were legal advisors.

Contact:

Erik Røysem Sterud, Chief Financial Officer, +47 911 63 907

 

About Småkraft AS:

• Småkraft owns and operates 221 small scale hydro power plants in Norway and Sweden.
• Småkraft cooperates with more than 900 landowners and produces 2015 GWh of renewable electricity yearly.
• 31 employees at offices in Bergen, Sandnes, Harstad, Flatanger, Verdal and Oslo.