BLP advises EPR on £130m refinancing

Berwin Leighton Paisner (BLP) has completed its first deal for Macquarie European Infrastructure Fund and its subsidiary Energy Power Resources Group (EPR).

Macquarie used BLP for the £130m refinancing of the companies comprising EPR Group, the UK’s largest owner and operator of biomass and windpower-generating stations.

BLP won the instruction from Macquarie’s in-house counsel Kate Fried following a beauty parade.

Project finance partner Robert Gross, who led the BLP team, said the deal involved EPR replacing its existing facilities, which included a number of individual banking facilities, with a single group facility. The lead arranger for the new facility was Royal Bank of Canada, advised by Clifford Chance, which was led by partner Rob Smith.

At the time Macquarie made its investment in EPR, the group comprised a number of generating power plants, each with separate finance departments. “Macquarie put a group facility in place with one facility packaging the whole group,” said Gross. “Macquarie is active across a variety of sectors, strengthening their own expertise, especially with infrastructure and energy, in the UK and internationally.”

Macquarie has several assets in the UK and has invested heavily in European infrastructure over the last 12 years.

Maclay Murray & Spens and McGrigors handled Scottish law issues.