London alternative investment manager, EOS Investment Management (EOS IM), yesterday completed the signing of a medium-long term financing agreement, for an amount equal to EUR 40 million, to finance part of the current portfolio of its energy fund, Efesto Energy.
The fund is managed by EOS IM and currently holds a total of 24 photovoltaic plants in ten Italian regions with a total capacity of 27 MW, corresponding to a value of over than EUR 65 million.
The transaction was structured and coordinated by Banca IMI – the investment bank of the Intesa SanPaolo Group – which acted as Mandated Lead Arranger and Agent Bank.
Obtaining this financing represents an important step towards the achievement of EOS IM’s objectives, as it reshapes and improves the current financial structure of the fund’s portfolio.
The current fund PV portfolio produces a total of approximately 37 million kWh per year, saving almost 21 tons of CO2 emissions and meeting the equivalent energy needs of more than 13,000 households.
The transaction allows us to improve the overall return on the entire fund portfolio, and therefore for our investors.
Ciro Mongillo, EOS IM’s CEO and Founding Partner commented on the transaction:
“We are very pleased to have reached this agreement with Intesa SanPaolo Group. The transaction allows us to improve the overall return on the entire fund portfolio, and therefore for our investors. EOS IM’s long-term strategy is challenging but rewarding, and therefore we are committed to maintaining a high level of diversification of the energy fund, both on a dimensional and geographical basis, whilst gradually increasing the portfolio. Furthermore, we continue to support investments in the clean energy sector.”
Legal Advisor for EOS IM was Grimaldi Studio Legale. Tax Advisor for EOS IM was Allen & Overy Studio Legale Associato.. The Legal Advisor for the Bank was Studio Fontana Galli& Associati.