UK solar power producer Sonnedix raises $23 mln in financing round

London-based solar power producer Sonnedix has raised a $283 million in equity financing.

The company will use the funds to cut its existing debt and for further growth acceleration as it seeks to buy and develop new projects in Organisation for Economic Co-operation and Development countries.

The financing was underwritten by three mandated lead arrangers including ING Bank N.V., Natixis, and Banco Santander S.A., London Branch.

The equity financing features a five-year $198 million term credit and a five-year $84 million revolving credit facility.