€101m Term Loan and €17m VAT Facility

IDCM was mandated by Peridot Solar to structure and arrange a financing that could be used to finance the construction and operation of a C.180MW portfolio of ground mounted solar assets located in Italy, that would be underpinned solely by merchant revenues, a first such transaction to be contemplated in the Italian market.

IDCM helped engage and worked closely with third-party advisors, built a financial model and produced a detailed IM, that included extensive analysis of the Italian market and power prices.

A competitive process was run, where IDCM approached both institutional investors and banks. Central to the process was the Sponsor wanted to maximise day one leverage whilst maintaining flexibility on terms of prepayment and/or the sale of assets within the portfolio.

After a rigorous term sheet negotiation process with short listed lenders, a single lender was selected. IDCM then worked with all third-party advisors to close the transaction and satisfy all CP’s in a timely manner to allow funds to be deployed.