Ontier and Cuatrecasas advise on the financing of a project through a private placement of bonds totaling €16m issued by Sun Investment

Ontier has provided legal counsel to Sun Investment Group in a project financing through a private placement of bonds totaling EUR 16 million, issued by Sun Investment ES Financial Services 1. These bonds have been fully subscribed by an international investment fund focused on climate-related initiatives.

The proceeds will be used for the construction and development of 25 individual photovoltaic projects, all located in Poland and operating on a fully merchant basis, with a combined total capacity of 29 MWp.

The transaction also involved the Lithuanian holding company, Sun Investment Group UAB, which received legal advice on Lithuanian law matters from TGS Baltic.

At the national level in Spain, Sun Investment ES Financial Services 1, S.A., as the bond issuer, was advised by a team from Ontier led by Lucía González (Partner and Head of Energy Sector), Esteban Cuyás (Senior Associate in Banking & Finance), assisted by María Gardeta (Junior Associate in Banking & Finance) and with the intervention of Mariana Lloveras (Associate in Energy), and Sofía Álvarez (Junior Associate in Energy).

The lender received legal counsel from (i) Gowling WLG at the international level and (ii) Cuatrecasas for the Spanish aspect of the transaction.