In March 2016, John Laing Environmental Assets Group (JLEN) has successfully completed a refinancing of its external debt for an 82.3MW portfolio of seven onshore wind farms in the UK.
The net result of this refinancing was a £4.0 million increase in the Net Asset Value of JLEN’s portfolio compared to the previous year.
The Bank of Tokyo-Mitsubishi provided £76.5 million of the senior debt with a refinancing at year five, and £3.3 million stand-by debt service facility.
In support of JLEN’s transaction, Operis was pleased to undertake an audit of the financial model which included a review of the model’s tax and accounting treatments.
