Merredin Energy Pty Ltd operates a state-of-the-art, 82MW peaking power station 260km east of Perth in Western Australia. Merredin provides a critical stabilising service that supports the peaky load profile in the south west of Australia, helping to reduce & prevent blackouts.
Merredin Energy recently completed a $44 million issue of 5 year senior secured fixed rate notes. The Note Issue provides Merredin Energy with long term capital to refinance the project facility used for construction in 2012, and provide a greater level of operational flexibility to take advantage of growth opportunities in the renewable energy space.
Merredin Energy is the latest corporate to access the bond market through FIIG Securities to broaden its capital base. FIIG has provided a range of funding solutions across different sectors, including:
- Funding diversification to refinance and/or complement existing funding lines;
- Providing growth funding for capital expenditure and acquisitions; and
- Optimising the capital structure through extending maturities, fixed or floating rates, secured and unsecured funding structures.