ARCLIFFE Bucharest Office Advises RE Royalties on 10 Million CAD Cross Border Financing of Transeastern Power Trust

Bucharest, 20 January 2017

ARCLIFFE’s Bucharest office has advised RE Royalties on a 10 million CAD financing of Transeastern Power Trust, a Canadian based energy company, which holds several Romanian renewable energy projects. Canadian law aspects were advised by McCarthy Tetrault whilst Netherlands law issues were advised by Warendorf.

The financing involved an innovative scheme, involving a term loan of five years and a continuing deferred interest for a period of 20 years, along with two categories of security. ARCLIFFE’s Bucharest office provided assistance with the financing and security structuring, creation of the security at the Romanian and Netherlands level as well as on due diligence aspects.

RE Royalties is a royalty financing company focused on building a portfolio of long-term, stable, diversified royalties from renewable energy projects. Transeastern Power is focused on renewable energy assets in Romania.

ARCLIFFE lead partner Edward Dobre stated: “RE Royalties financing of Transeastern proves that foreign lenders remain interest in the Romanian renewable market. We expect that such lending activity will continue.”