The Nordex Group has concluded a new ESG-linked syndicated Multi-Currency Guarantee Facility with a total volume of EUR 2,475 million. This new facility comes with a 5-year maturity and improved terms and conditions, including a material reduction in interest rates on a like-for-like basis.
The new facility provides the company with a larger, more flexible and more cost-efficient financing framework for the period from 2026 to 2031. The facility was arranged with the support of three leading international banks: Commerzbank Aktiengesellschaft (also acting as Bookrunner and Facility Agent), Intesa Sanpaolo – IMI CIB Division (also acting as Global Coordinator, Bookrunner and Sustainability Coordinator) and UniCredit Bank GmbH (also acting as Bookrunner, Documentation Agent and Process Coordinating Agent). The overall facility is based on commitments from a total of 15 financial institutions. Freshfields and Clifford Chance supported the deal as legal advisors.
'We’ve been on a journey as an institution for the last 5 years. After a complete reset of the balance sheet to a solid level, a full business turnaround to industrial levels with achievement of our mid-term goals; the refinancing marks the completion of the turnaround of the company on a holistic level. The successful refinancing of our ESG-linked syndicated Multi-Currency Guarantee Facility has secured us a strong and reliable framework for the coming years. This facility enhances our financial flexibility, enabling us to support customers in the relevant regions by helping our sales teams convert opportunities into orders and executing our order backlog with discipline,' says Dr. Ilya Hartmann, Chief Financial Officer of the Nordex Group. 'The increased volume and improved conditions also reflect the confidence of our banking partners in Nordex’s business development and long-term prospects.'
Guarantee facilities are an important financing instrument in the wind energy industry. They are used, among other purposes, to provide guarantees related to customer projects and other contractual obligations of the business in a lot of markets in which the Group operates.
Source: Nordex Group
