What's New In Investments, Funds? - Apex, BITE, Others

Editorial Staff

19 May 2020

Apex Group, BITE Investments
Fintech services firm has completed a A$145 million investment into a Taiwanese offshore wind farm developer. The deal, structured as a mezzanine debt package, was conducted alongside Stonepeak Infrastructure Partners.

The windfarm developer is called Swancor Renewable Energy Co. The investment, which marks AMP Capital’s first in Taiwan, will support the construction of a new 376-megawatt offshore wind farm called Formosa II.

(Mezzanine debt has embedded equity instruments attached, often known as warrants, which increase the value of the subordinated debt and allow greater flexibility when dealing with bondholders. Mezzanine debt is frequently associated with acquisitions and buyouts.)

AMP said that Formosa II “is considered a priority project for the region and will be one of Taiwan’s largest offshore wind farms when construction is completed, which is currently expected to be in 2021”.