Battery storage investment trust Harmony Energy Income (HEIT) has refinanced its debt facility, easing investor fears over its solvency.
In a stock exchange notice today (22 February), the trust said it has completed the amendment and restatement of its existing debt facilities with NatWest and Rabobank, which it said reflects the evolution of HEIT's portfolio from "construction" to "operational". The changes include the amalgamation of the previous £110m term facility and £20m RCF into a single £130m facility and an extension of the legal maturity date from June 2027 to February 2031. HEIT has also secured a reduction in margin to 275bps for the first two years, rising to a maximum of 350bps in the final year, and a r...
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