Natixis Corporate & Investment Banking (Natixis CIB) has closed a $1.5 billion sustainability-linked revolving credit facility to support Invenergy Renewables Operating I LLC (IROI) and its parents’ growing project development pipeline. This financing augments the existing $600 million working capital facility of IROI with the support of existing lenders and several new lenders joining the syndicate.
Mandated lead arrangers were Natixis CIB; Cooperatieve Rabobank U.A., New York Branch (Rabobank); Export Development Canada; Desjardins Group.
This year, Natixis CIB, acting as sustainability coordinator, has worked with IROI to structure sustainability-linked features aligned with the company’s strategy to deliver clean energy. The facility is tied to two key performance indicators: the increase in GHG emissions avoided related to IROI’s assets and a health and safety metric.
“This financing firmly advances our ability to execute on an industry-leading project portfolio at a time of massive growth for Invenergy,” says Meghan Schultz, executive vice president and CFO at Invenergy. “We thank our lender teams for their excellent service, continued confidence and shared commitment to building a more sustainable world.”
