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Green Giraffe advised Mirova on the sale and simultaneous refinancing of their Croatian onshore wind portfolio, consisting of the projects Danilo & Rudine
Green Giraffe was mandated in May 2021 by Mirova, French Natixis’ sustainable asset manager, for the 100% sale of their onshore wind assets Danilo (44MW) and Rudine (34 MW) to Professio. In parallel Green Giraffe advised on the debt refinancing to maximise the equity valuation. The dual track mission included financial modelling, debt structuring and market sounding among potential lenders and investors, tailoring of a competitive financing package, review of due diligence reports, bank and investor selection, negotiation of the debt and equity documentation and support of the two processes up to financial close. The new senior financing provided by local lender PBZ replaced existing senior IFC debt and benefits from improved commercial terms. The project portfolio was sold to Professio, a Croation IPP owned by institutional investors. The debt refinancing closed on 22 December and the equity transaction on 29 December 2021.