ENCAVIS AG

Capital/Financing Update • May 6, 2015

News Details

Corporate | 6 May 2015 13:00

Capital Stage AG secures £40m long-term financing for its British solar park portfolio

DGAP-News: Capital Stage AG / Key word(s): Miscellaneous/Miscellaneous

2015-05-06 / 13:00

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Hamburg, 6 May 2015 - SDAX-listed solar and wind park operator Capital
Stage, Hamburg, has signed an attractive and innovative long-term financing
arrangement for the debt capital portion of the recently acquired 53.4 MWp
solar park portfolio in the UK. The long-term financing arrangement
consists of UK listed notes, totalling GBP 40 million (approx. EUR 56
million), placed with Legal & General Investment Management (LGIM) on
behalf of an external institutional investor.

The structuring of the listed notes was arranged by UK-based IDCM Limited,
which was also responsible for the successful placement of the notes with
the institutional investor. Furthermore, Norton Rose Fulbright, UK, has
acted as legal advisor for IDCM Limited.

"The possibility to finance the debt capital portion of our UK solar park
through the issue of long-term listed notes at favourable conditions
greatly expands our financing options. In addition, we benefit from the
currently highly attractive market conditions," said Felix Goedhart, CEO of
Capital Stage AG. "We are pleased that with IDCM we have found a very
reliable and competent partner, with whom we will be pleased to cooperate
also in the future," Goedhart added.

"We are delighted to have acted as the arranger of this transaction. We
have now arranged and executed circa GBP 300 million of long-term debt
financing for solar assets in the UK and continue to look for further
interesting investment opportunities.", commented Jean Christophe Oberto,
Executive Director at IDCM Limited, on the successful transaction.

"Having established our infrastructure business in 2012 we initially
dedicated our focus to LGIM's internal capital base, proving our
capabilities and expertise in this market. We are now pleased to have
opened this up to external clients and are currently investigating a number
of other attractive infrastructure investments on behalf of our external
clients" commented Silja Turville, Head of LGIM Infrastructure.

The solar park portfolio financed through the issue of the listed notes
comprises seven PV parks in the south-west of England and Wales, which were
acquired by Capital Stage in February 2015 subject to standard conditions
precedent. The parks have total generation capacity of roughly 53.4 MWp.
The notes-based long-term financing structure replaces the previous
construction phase financing arrangement for the parks. The successful
close of the long-term financing arrangement also means that all conditions
precedent have been met.

About IDCM Limited:
Established in late 2009, UK-based IDCM delivers bespoke and innovative
funding solutions across the capital spectrum, partnering with clients to
meet their individual needs, strategic plans and financing requirements.

IDCM's access to non-bank capital providers is broad and it works
discretely with these institutions to provide financing solutions tailored
to borrowers' needs. IDCM's approach is applicable to a broad range of
industries with a particular expertise in infrastructure (utilities,
energy, transport), property and natural resource sectors.

For more information, visit: www.independentdebtcapitalmarkets.com

About LGIM Infrastructure:
LGIM Infrastructure forms part of the Real Assets division of Legal &
General Investment Management (LGIM), which also includes its real estate
business, Legal & General Property (LGP) and its real estate lending arm,
Commercial Lending Limited (CLL).

One of Europe's largest institutional asset managers and a major global
investor, LGIM manages approximately £476.8bn in assets on behalf of over
3,100 clients and provides products and solutions spanning all asset
classes.

The Infrastructure division has concluded 12 debt investiment to date.
Active in all key infrastructure sectors, it has already invested in social
housing, student accommodation, transport, renewable energy, communication
networks and government-backed accommodation.

About Capital Stage AG:
Since 2009, Capital Stage has acquired solar power plants and wind parks in
Germany, France, Italy and the UK with a capacity of about 450 MWp, making
it Germany's largest operator of solar parks. Its solar and wind parks
generate attractive returns and continuous revenues, while offering a
moderate level of investment risk.

Capital Stage AG is listed in the regulated market (Prime Standard) of the
Frankfurt Stock Exchange and in the regulated market of the Hanseatic Stock
Exchange Hamburg (ISIN: DE0006095003 / WKN: 609500). The shares of Capital
Stage AG have been listed in the Deutsche Börse selective index SDAX since
March 2014.

For more information, visit www.capitalstage.com

Contact:
Capital Stage AG
Till Giessmann
Head of Investor & Public Relations
Phone: + 49 (0)40 37 85 62-242
Fax: + 49 (0)40 37 85 62-129
e-mail: till.giessmann@capitalstage.com

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2015-05-06 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Capital Stage AG
Große Elbstraße 45
22767 Hamburg
Germany
Phone: +49 4037 85 62 -0
Fax: +49 4037 85 62 -129
E-mail: info@capitalstage.com
Internet: www.capitalstage.com
ISIN: DE0006095003
WKN: 609500
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg;
Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart

End of News DGAP News-Service

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