Waga Energy signs its first green syndicated loan for EUR 100 million

Waga Energy (Waga), a leader in producing renewable natural gas (RNG) from landfills, has signed an inaugural €100 million corporate loan agreement with a consortium of five banking groups.
The syndicated loan, with a three-year maturity with the possibility of extension to five years, will enable the acceleration of Waga Energy’s international development, particularly in the United States, and will strengthen the Group’s financial structure, it said.
This green-labelled loan will be used to finance projects that make a significant contribution to climate change mitigation, in line with the European Green Taxonomy and decarbonisation challenges, WAGA added.
The transaction was largely oversubscribed by a group of 5 institutions: Groupe BPCE (Natixis, Banque Populaire Auvergne Rhône Alpes, Caisse d’Épargne Rhône Alpes), Groupe Crédit Agricole (Crédit Agricole CIB, Crédit Agricole Sud Rhône Alpes, Crédit Agricole Centre France, Crédit Lyonnais), Arkéa Banque Entreprises & Institutionnels, BNP Paribas and Société Générale.
Natixis acts as Documentation Agent and Credit Agent, while Crédit Agricole CIB and Crédit Agricole Sud Rhône Alpes act as green coordinators.
Jean-Michel Thibaud, Group Chief Financial Officer and Deputy CEO, stated: “The acquisition of this financing at the Group parent company level illustrates the confidence of our banking partners in the project led by Waga Energy to support the energy transition. It further strengthens our balance sheet and confirms the strength of our business model based on the construction and operation of assets that generate highly predictable cash flows.”
Waga Energy was assisted in this transaction by Redbridge Debt & Treasury Advisory (financial advisor) and Jones Day (law firm). The lenders were assisted by Hogal Lovells (law firm).