BlackRock Real Assets, on behalf of clients, has closed a long-term debt financing for Ellevio, the regulated Swedish electricity distribution system operator.
BlackRock says the transaction brings a number of benefits for its institutional clients, including stable, long-term cash flows underpinned by an investment-grade rated issuer in Ellevio, who benefit from fully regulated electricity distribution operations in Sweden.
The transaction also capitalises on BlackRock’s clients’ ability to provide natural, long-term Swedish krona funding.
Jonathan Stevens, head of European infrastructure debt at BlackRock, says: “We are delighted to have closed this debt financing for Ellevio. It is attractive to our clients and provides Ellevio with further diversification of its funding base, enabling investment in a sustainable electricity network for its customers.”
“It also underlines a strong start to 2017 for our Global Infrastructure Debt Platform at BlackRock, with total assets under management now of over USD5 billion and 44 transactions globally,” Stevens adds.