Successful Refinancing of €120m Greenstar Ireland Debt Facility Announced at NTR AGM
NTR plc, the international renewable energy group, announced at its AGM in Dublin today the successful refinancing of a €120m debt facility for its Irish based sustainable waste management business, Greenstar (Ireland). The facility provides Greenstar with the continued financial flexibility to invest in its recycling and waste management facilities and to respond to opportunities arising from the potential consolidation of the Irish waste management market.
The new €120m debt facilities are for a term of three years, maturing in September 2012, with additional flexibility on associated covenants, giving strong endorsement to Greenstar’s development strategy and its successful management through the existing economic downturn. A club of seven Irish and international banks are providing the facility – Bank of Ireland (Arranger and Agent), AIB Group, Ulster Bank, Bank of Scotland (Ireland), Rabobank, Barclays Bank and new addition to the consortium, HSBC.
Said NTR Chief Executive Jim Barry;
“We are particularly satisfied with this vote of confidence in Greenstar and, by extension, the NTR Group, by the banking community in the current financial market environment. The refinanced facilities provide important headroom for the Greenstar business to strengthen its position as the premier provider of environmental, waste management and recycling solutions in the Irish market.”
Ends
Issued on behalf of NTR plc by Heneghan PR
Media Contacts
Nigel Heneghan / Rachel Watchorn
Heneghan PR
Tel: (01) 660 7395
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