We completed the refinancing plan Class XXI ON US $ 51.5 million
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Genneia achieved this Nov. 20 to complete the refinancing plan of its Notes ( "ON") Class XXI by US $ 51.5 million, which was presented on 23 October. The operation was performed in compliance with all exchange measures established by the BCRA through Communication "A" 7106 and represents a clear gesture of trust and support from investors to the company.
Another important aspect of the process is that the plan Genneia not only had the support of its current holders but also interested in the proposed new benefits. It is noteworthy that the refinancing was not the initial objective of the company, which had all the necessary funds to honor its commitments, but the limitations established for the payment of principal of Class XXI ON emerges in response. Genneia is the leading renewable energy company, recognized for the strength and quality of their contracts. A) Yes:
- + 90% of its sales are denominated in dollars under long-term contracts (PPA).
- + 70% of these sales come from renewable energy assets.
- + 50% of its revenues are backed by the guarantees of the FODER and Sovereign and some of its contracts are backed by the World Bank.
- US $ 250 million EBITDA achieved in the last 12 months.
All indicators, with his creditworthiness, make the support of holders to participate in the exchange. "Genneia manages to meet the exchange measures established by the BCRA and accompanies the monetary authority through this refinancing plan by US $ 51.5 million. It is recalled that this refinancing was not the initial objective of the company, which already had all the necessary funds to honor its commitments."