Zenith Energy Pty Ltd (Zenith Energy) is pleased to announce that it has successfully completed a debt financing, adding a new A$320 million tranche to its existing A$440 million syndicated facilities that were established in October 2022.

Zenith Energy Pty Ltd (Zenith Energy) is pleased to announce that it has successfully completed a debt financing, adding a new A$320 million tranche to its existing A$440 million syndicated facilities that were established in October 2022. The increase in limits attracted two new lenders, DBS Bank (DBS) and Natixis CIB (Natixis), joining existing lenders Westpac Banking Corporation (Westpac), National Australian Bank (NAB), Sumitomo Mitsui Banking Corporation (SMBC), BNP Paribas (BNPP), Australia and New Zealand Banking Group (ANZ) and Aware Super (Aware).

The A$320 million of new debt limits ensure Zenith has committed facilities to fund new growth projects including recent contract wins, notably the 96MW Kathleen Valley Hybrid Power Station for Liontown Resources, the 88MW Bellevue Gold Hybrid Power Station and a 53MW renewable retrofit of Zenith’s existing Jundee Power Station for Northern Star Resources. Significant committed facility headroom remains to fund further material growth projects.

Further commitments from existing lenders and the addition of DBS and Natixis to an already robust lender group is a strong endorsement of Zenith’s strategy and capabilities. The continued support from lenders facilitates Zenith’s desire to be a leading player in the decarbonisation of the mining industry.

Zenith continues to benefit from strong support from its institutional shareholders, Pacific Equity Partners, Foresight Group and OPTrust. These shareholders collectively have over A$55bn of funds under management and have significant energy infrastructure experience, having invested in renewables, thermal generation, and storage assets across Australia, Europe, and North America. These shareholders have collectively successfully developed over 1,500MW of greenfield, large-scale renewable projects.

Zenith’s financial advisers were Azure Capital and KPMG Corporate Finance and its legal adviser was Allens. King & Wood Mallesons was a legal advisor to the lenders.