DLA Piper has advised Senvion SE (Senvion) in connection with a syndicated loan agreement amounting to EUR 850 million. The consortium was led by Bayrische Landesbank, Commerzbank Aktiengesellschaft and Deutsche Bank AG. Conclusion of the credit line agreement means extended financing has been secured for the loan facilities amounting to EUR 750 million, agreed in March 2012 until August 2014.
In total, 14 international banks and credit insurance companies are involved in the three-year loan, the syndication of which was significantly oversubscribed. Six new institutions with excellent ratings have been recruited for the consortium, resulting in an increase of the previously existing credit line by EUR 100 million.
Senvion, a wholly owned subsidiary within the Suzlon Group, is among the world’s leading producers of wind turbines in the onshore and offshore sectors. The internationally operating engineering enterprise develops, produces and sells wind turbines with rated outputs of 1.8 to 6.15 megawatts and rotor diameters of 82 to 152 metres. The company has more than 3,300 employees worldwide and can draw on its experience from the production and installation of more than 5,000 wind turbines around the world.
The DLA Piper team was led by partner Dr Wolfram Distler (Finance & Projects, Frankfurt) and comprised of partner Dr Andreas Meyer-Landrut (Corporate, Cologne) and associates Rebecca Schulz (Finance & Projects, Frankfurt) and Anja Köritz (Corporate, Cologne).