Platina Partners LLP successfully completed the £28m refinancing of the 28 MW Danu II wind portfolio

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Platina Partners LLP (“Platina”) has secured £28m of new funding in order to refinance their 28 MW Danu II wind farm portfolio, consisting of two operational 14MW on-shore wind farms in the UK, both constructed in 2009.

Platina refinanced the existing bank debt with floating rate debt from capital markets investors and novated the existing swaps to a new counterparty, with no payment from Danu II to novate the swaps.

The refinancing increased the gearing and the maturity of project senior debt, with the new debt maturity exceeding that of the underlying power offtake and operating and management agreements.

TradeRisks structured and arranged the refinancing and swap novation for Platina.