Abengoa Yield announced increased its existing $125 million credit facility with a revolver tranche B for an additional amount of $290 million.

Tranche B was closed with Bank of America as global coordinator and joint bookrunner, HSBC as agent and joint bookrunner and Banco Santander, Citigroup, RBC, Barclays and UBS as joint bookrunners and it will be used to finance future acquisitions and for general corporate purposes.

“This increase in our credit facility proves our solid financial position and provides us with flexibility to accomplish new acquisitions and deliver accretive growth to our shareholders,” said Javier Garoz, CEO of Abengoa Yield.

Abengoa Yield is a total return company that owns a diversified portfolio of contracted renewable energy, power generation, electric transmission and water assets in North America, South America and certain markets in EMEA.