DIF Infrastructure II completes refinancing of a French solar PV portfolio

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
DIF Infrastructure II completes refinancing of a French solar PV portfolio

DIF Infrastructure II, a fund managed by the independent and specialist fund management company DIF, has closed the refinancing of a 31.2 MWp solar PV portfolio in France.

DIF has completed the refinancing of a portfolio of 15 operational solar PV projects located on the rooftops and parking shelters of supermarkets in the south of France, taking advantage of the prevailing low interest rate environment.

The projects, originally developed by Green Yellow and acquired by DIF at the start of the construction in 2010 through 2011, have all been operational for more than 3 years. The portfolio is 85% owned by the DIF Infrastructure II fund, with Green Yellow owning the remaining 15%.

Natixis and CEPAC, acting as co-MLA, provided €196 million (US$217.6 million) of debt to refinance the existing debt, with part of the debt to be syndicated to several banks and institutional investors through Natixis Infrastructure Debt Platform. Natixis also acted as sole hedging bank.

The lenders were advised by Linklaters (legal), OST (technical), Fidal/KPMG (tax) and MARSH (insurance). DIF was advised by Depardieu Broccas Mafféi (legal) and Noveo Finance (hedging).

Thomas Vieillescazes, partner of DIF and head of the Paris office says:

“This refinancing confirms the capacity of DIF to add significant value to assets under its management for its investors by proactively managing the assets in which its funds have invested.”

List of country news

Country news

  • March 14, 2016

    France tenders airport privatizations

    The French government has launched the privatization process of the airports of Nice Côte d'Azur and Lyon Saint-Exupéry. Read more
  • March 07, 2016

    France to launch airport privatizations this week

    The Economy Minister of France has announced the sale of the government's 60% stakes in the Lyon-Saint-Exupery and Nice Cote d'Azur airports through the release of the privatization tender rules. Read more
  • February 22, 2016

    Ardian and Changi Airports to jointly bid for french airports

    Ardian and Changi Airports have plans to jointly bid for the Lyon-Saint-Exupéry and Nice Côte d'Azur airports in France. Read more
  • February 05, 2016

    Eiffage signs French university PPP

    France's University of Lorraine and Eiffage have signed a PPP agreement for the development of a biology health centre in Nancy. Read more
  • February 04, 2016

    Colas signs agreement to sell A63 highway concession

    Colas has signed the agreement to sell its 15.564% stake of the A63 highway concession company to HICL and DIF investment funds. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.