The amendment and restatement of Coriance’s debt facilities closed on July 28, 2015.
On behalf of municipalities and local governments, Coriance operates 28 district heating networks spread across France. These networks utilise a variety of renewable energy sources including biomass, geothermal and heat recovery from incineration plants. The new debt, provided by Credit Agricole, is structured in two tranches. One of which refinances the Company’s existing debt, while the other will fund future capital expenditure.
Operis was pleased to provide an audit of the financial model used to evaluate the bankability of the transaction, which included checking the model’s tax treatments against a report by the company’s advisors.
