Zenith Energy secures A$440m debt financing

It will be used for its new generation projects, amongst others.

Zenith Energy completed A$440m five-year syndicated debt facilities which will support its new generation projects and expansion in the urban and remote microgrid sector.

In a statement, Zenith, which delivers renewable power technologies and supports lower emission solutions for mine site energy supplies, said the facilities will also provide a flexible platform to increase committed limits.

The Facilities will also enable the company’s expansion of its lender relationships through an accordion feature.

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Zenith said the debt facilities were signed with Westpac Banking Corporation, National Australian Bank, Sumimoto Mitsui Corporation, BNP Paribas, Australia and New Zealand Banking Group, and Aware Super.

“Establishing a group of Tier 1 domestic and international lenders provides Zenith with additional funding certainty, alongside the long-term capital provided by our institutional shareholders (Pacific Equity Partners, Foresight Group and OPTrust) who collectively have over A$55 billion of funds under management,” said Managing Director and CEO Hamish Moffat. 

“This facility further supports Zenith’s leading role in decarbonising the mining industry,” he added.