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Financial close of a GBP118m renewable financing provided by Banco Sabadell and NAB to Cubico Sustainable


On February 9th 2017 Banco de Sabadell, S.A. (Banco Sabadell) and National Australia Bank reached financial close on a GBP118m portfolio financing of 4 operational wind farms located in the UK owned by Cubico Sustainable Investments, one of the world’s leading renewable energy infrastructure companies. The 4 assets have been accredited for 20 years under the Renewable Obligation regime and have a total capacity of 61.5MW. The GBP118million debt package was provided by Banco Sabadell and NAB acting jointly as Bookrunners and Mandated Lead Arrangers (the “Bookrunners and MLAs”).

The financing was structured as an open-ended portfolio to permit the inclusion of further renewable energy assets and is intended to provide an efficient method to finance future projects.

The Bookrunners and MLAs were advised by Norton Rose Fulbright (legal), Sgurr and DNV GL (Technical), Marsh (Insurance), KPMG (Tax and Accounting) and Mazars (Model Audit).

About NAB:

National Australia Bank Group (the Group) is a financial services organisation with approximately 10 million customers and 35,000 people globally.

NAB’s major financial services franchises in Australia are complemented by businesses in New Zealand, Asia, the United Kingdom and the United States. Each of NAB’s brands is uniquely positioned, but built on a common commitment to provide customers with quality products and services, fair fees and charges, and relationships built on the principles of help, guidance and advice.

NAB believes the financial sector has an important role to play in assisting the transition to a low carbon economy, through both the energy we purchase directly and through financing.

NAB has recently made a commitment to undertake financing activities of A$18bn over the seven years to September 2022 to help address climate change and support the transition to a low carbon economy.

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Banco de Sabadell, S.A. Avenida Óscar Esplá, 37, 03007 Alicante, registered with the Mercantile Register in Alicante, tome 4070, folio 1, page A-156980, Fiscal Identification Number (NIF) A08000143.
Financial institution under the supervision of the Bank of Spain and registered in the Special Administrative Register under number 0081
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