Qair, an independent renewable energy producer, has announced the closing of its inaugural syndicated loan totaling €240 million (~$282 million).
The financing comprises a €130 million (~$153 million) amortizing loan with an initial 3-year maturity, extendable twice for one additional year each. A €110 (~$129) million revolving credit facility with the same maturity terms and an accordion option of up to €100 million (~$117 million), enabling the inclusion of additional banking partners.
The transaction will be used to optimize the company’s capital structure by consolidating existing credit lines, refinancing a €45 (~$53) million bond maturing in February 2026, and supporting general corporate purposes.
The loan was concluded with a consortium of 10 leading international banks, with Natixis Corporate & Investment Banking (Natixis CIB) acting as sole coordinator and documentation agent.
Banque CIC Sud Ouest, BNP Paribas, Caisse d’Epargne et de Prévoyance Languedoc-Roussillon, Caisse Régionale de Crédit Agricole Mutuel du Languedoc, Crédit Agricole Corporate and Investment Bank, Crédit Lyonnais, and Natixis Corporate & Investment Banking acting as mandated lead arrangers and bookrunners.
Bpifrance and Société Générale acted as mandated lead arrangers in the transaction, while Banque Populaire du Sud acted as lead arranger.
Ashurst acted as the lender’s legal advisor in the establishment of the loan, and Bryan Cave Leighton Paisner advised Qair.
In August, the company obtained $5.7 million in senior debt financing from the Facility for Energy Inclusion, managed by Cygnum Capital, an investment bank and asset management firm.
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, announced solar debt financing activity in 9M 2025 totaled $12.7 billion in 60 deals, 24% lower than 9M 2024, when $16.7 billion was raised in 68 deals.
In July, Opdenergy, an independent renewable energy producer, secured a new corporate debt facility of €350 million (~$412 million) through senior bonds (2025 Bonds) from a group of institutional investors led by EIG and Infranity.
