Calisen completes £250m corporate refinancing
Calisen Limited (“Calisen” or “the Company”) has completed a £250m revolving loan facility agreement (the “Facility”), which has refinanced the residual facilities (both term and revolving) which supported the acquisition of the Company in March 2021.
The new three year Facility supports Calisen’s central role in delivering smart meters as a core part of the UK’s decarbonisation agenda. The Facility is structured to align with Calisen’s broader purpose of delivering Smarter Energy for All by providing flexible funding for growth, underpinned by the stability of Calisen’s smart metering platform including the recently acquired MapleCo. This will ensure Calisen is competitively positioned for its next phase of growth.
The financing has been well supported by key relationship banks, and builds on Calisen’s £1.4 billion landmark refinancing of its key subsidiary Calvin Capital, which also saw the business enter into the USPP market for the first time.
Calisen is a leading owner and manager of essential energy infrastructure assets, with a purpose of accelerating the use of smarter energy. Calisen’s operations currently consist of four operating business units: Calvin Capital, Lowri Beck, Plug Me In and Advizzo.
Brandon Rennet, Chief Financial Officer of Calisen said “I am pleased to announce the successful refinancing of our group-level debt facilities, supported by a number of our key relationship banks. Ensuring that our operational efficiency and discipline is mirrored in our financing is fundamental to our purpose to deliver Smarter Energy for All.”
Calisen was advised by Santander CIB (Financial Adviser), Clifford Chance (Legal Adviser) and DNV (Technical and Commercial Adviser). The lenders were advised by Latham and Watkins (Legal Adviser).