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Syndicating larger debt facilities:
SolarNow, Uganda

We establish long-term relationships with both borrowers and co-lenders. Repeat business builds trust and syndicating multiple investors diversifies risk – both of which allow us to scale up investment in the sector.

In December, we closed a $9m receivables financing facility with SolarNow that marked both the 5th anniversary of our partnership and a total of $19m that we have delivered to the company through direct and syndicated lending.

It was also the third syndication arranged by us with our partner financiers responsAbility and Oikocredit investing alongside us – and the second for SolarNow, after the $6m facility we led in 2017.

By syndicating larger amounts with multiple investors and scaling with our borrowers, we save solar companies time so they can concentrate their attention on their customers and core business.

We are proud of the value that our specialist origination and collaborative approach adds.

The transaction was also SolarNow’s third utilisation of our structured asset financing instrument (SAFI), a tailored receivables solution for solar companies deploying systems through pay-as-you-go and leasing models.

“This syndication and the SAFI structure allow us to minimize the fundraising burden and to focus on our business instead.”
Willem Nolens
CEO, SolarNow
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