I am trying to build a model for a infra deal and the capex is being funded via equity, grant and the only debt is a capex facility pik. I don't have the exact terms of the facility yet but I am wondering if this is a common form of debt for these type of deals in energy start-ups? I can barely find information on this form of debt just generally speaking.
What are typical terms for these deals? Do they just accrue the interest until completion then repayment starts with mandatory payments? Is there any other differences I should be aware of when modeling or just treat it like a revolver that can't be drawn again after project completion.
Thanks!
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