RE Royalties Enters into USD $4.6 Million Loan All amounts in US dollars unless otherwise stated
VANCOUVER, BC / ACCESSWIRE / March 2, 2022 / RE Royalties Ltd. (TSXV:RE) ("RE Royalties" or the "Company"), a global leader in renewable energy royalty-based financing, has entered into a mezzanine financing agreement with Outagamie Clean Energy Partners ("OCEP"), a Renewable Natural Gas ("RNG") developer to finance the construction of a biogas to RNG upgrading project located in Wisconsin (the "Project").
RE Royalties has provided a USD $4.6 million secured loan (the "Loan") for three years. The Loan has an interest rate of 13.5% per annum. The Loan will be interest only for the first 2 years and amortized over the final year. RE Royalties will also receive a fixed annual royalty payment of 4% of invested capital for 10 years upon repayment of the Loan (the "Fixed Royalty Payment"). Franklin Park Infrastructure, a leading international renewable energy investor and asset manager, helped source and structure the Loan and will be a co-investor with RE Royalties.