OPC Holdings Israel Ltd., a subsidiary of Kenon Holdings, entered into financing agreements for loans totaling approximately NIS 1.65 billion, which translates to about $456 million. These funds were specifically designated for the early repayment of the existing project financing associated with the Tzomet and Gat power plants.
The completion of this refinancing initiative is expected to enhance OPC's financial flexibility and potentially reduce its overall interest expense burden. This move aligns with a strategy to optimize capital structure for its operational assets.
The early repayment of project financing for these two power plants strengthens OPC's balance sheet and supports its ongoing operations in the Israeli energy market.
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