Fund manager Foresight Investment has issued a £60m bond - Senior Secured index-linked notes with a 21 year maturity - with the funds being used to refinance four of the solar parks it has developed in the UK. The solar parks are FIT-accredited with aggregate output of 15.70MW. The bond has been issues under the name Mirabaud Securities LLP; bookrunner is Independent Debt Capital Markets, with the bond to be listed on the London Stock Exchange. Coupon is 2.598%.
There have been a number of UK conversations about such bonds for refinancing in the wake of increased, Feed-In Tariff-induced solar investment in recent years. We appreciate that one swallow does not a summer make, but we do expect to see more over the coming year.
