Qair and Enerfip reshape corporate financing with first guaranteed participatory bond issue
European leader in participatory financing in the renewable energy sector, Enerfip innovates by arranging a bank guarantee with four regional banks on a bond issue by the independent renewable energy producer Qair, for an amount of €25 million.
This is a unique structuring in France, very competitive for project owners and with an unrivalled guarantee for investors.
To propose this unique offer in France, Enerfip has developed partnerships with four regional banks Crédit Agricole Languedoc (CAL), Crédit Agricole Sud-Rhône Alpes (CASRA), Caisse d’Epargne Languedoc-Roussillon (CELR) and Caisse d’Epargne Midi-Pyrénées (CEMP).
These 4 banking structures have agreed to guarantee the capital invested by the bondholders of the operation, in return for a corresponding remuneration. Thus, Qair benefits from a very competitive all-in rate in the current market, and the bondholders benefit from an attractive remuneration with guaranteed capital.
This innovative partnership allows banks to expand their service offerings by providing a bank guarantee to their customers who will invest – on the enerfip.fr platform – part of their savings in renewable energy projects, without risk.
This brand new approach, conceived, built and implemented in Montpellier, France, shows the current dynamics and the diversification needed to ensure the financing of the energy transition. Enerfip, Qair and 4 regional banks are thus disrupting the traditional market and demonstrating that there is a great deal of interest in financing this key sector.
“This innovative offer makes sense in the financial allocation of private investors. Investors also act as citizens by choosing to support projects that meet their sensibilities and often help develop sustainable activities and local jobs. This type of structuring has enabled us to meet the expectations of investors who are obliged to invest in financial products with guaranteed capital,” says Vincent Clerc, Distribution Director at Enerfip.
“We are proud to be able to participate with Enerfip in the first guaranteed participative bond operation. This solution complements the traditional offers available to project owners,” says Alexandre Lambolez, CFO of Qair. This type of financing is ideal for growing companies like Qair, while allowing them to benefit from very competitive rates.
Qair is once again demonstrating its ability to innovate, and to pursue its development by taking advantage of market opportunities. As the current context demonstrates every day the need to accelerate the energy transition, we are proud to be able to partner with renewable financing players, such as Enerfip, and to work together for the energy transition.”
A first operation that calls for many more
In June 2022, Enerfip and Qair will jointly propose a second issue of around €30 million on its platform, with the same terms and conditions. This second tranche will confirm the effective launch of this new financing product, which will undoubtedly meet the needs of many players in the sector who are looking for efficient and competitive solutions.