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DWF advises EEW Capital Finance PLC on EUR200m bond programme

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Global legal business, DWF, has advised EEW Capital Finance PLC in its capacity as Issuer on EUR200m Medium Term Note bond programme.

The first 2019 series of Bonds was issued by EEW on 15 August for an amount of EUR25 million. The Bonds are listed on the Euronext Dublin exchange with a rating of A(sf) (ind) from ARC Ratings.
 
The Bonds will fund the acquisition and development of photovoltaic solar power projects owned by EEW Eco Energy World Development Holdings One BV, a member of the Eco Energy World group of companies, an international developer of utility scale solar projects, which since its inception, has delivered over 1,200 MW of solar Photovoltaic development across Europe and the Asia-Pacific region.
 
Advising on the programme, DWF’s Debt Capital Markets team was led by Martin Pugsley alongside Michael Byrne in from the London office, and Jen Burney in the Banking team in the Sydney office.
 
Martin Pugsley, head of financial services at DWF, says: “We are pleased to advise EEW Capital Finance PLC on this significant EMTN bond programme in the renewables sector, which will open up lines of funding to the Eco Energy World group to develop solar projects across multiple jurisdictions. This transaction perfectly demonstrates our global credentials and specific expertise in listed / rated asset-backed bond issues.”
 
Robert Ainscow, Head of Capital Markets at Zenzic, which acted as arranger to the Issuer, says: “The EEW bond is an innovative structure which enables Eco Energy World to lever its existing portfolio of developed assets to invest in its inventory and further portfolio projects, while delivering a stable and valuable security portfolio for the benefit of investors. The transaction shows again Zenzic’s ability to provide capital markets access to high growth companies in the middle-market.”

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