Nordex Group receives revolving syndicated loan of EUR 350 million
Hamburg (renewablepress) - The Nordex Group has secured a revolving syndicated loan facility of EUR 350 million within the framework of the federal government's loan guarantee program with the participation of the states of Mecklenburg-West Pomerania and Hamburg.
"With this credit facility, we are soundly protecting the company against the effects on our operating business and remaining uncertainties caused by the COVID 19 pandemic," says Christoph Burkhard, CFO of the Nordex Group. "A crucial factor in this success is the confidence placed in the Nordex Group by the state guarantors and the banking syndicate in Nordex being a sustainable technology company in the renewable energies sector, a key industry of the 21st century".
Back in May, the Company already communicated its intention to apply for governmental support under the Corona guarantee program as a precautionary measure to reinforce the Company’s means in the face of the crisis. This process has now been successfully completed.
The revolving syndicated loan runs until 30 April 2022. 90 percent of the credit line is guaranteed by the Federal Republic of Germany, the city of Hamburg and the state of Mecklenburg-West Pomerania.
The banking consortium consists of Banca Bilbao Vizcaya Argentaria S.A., BNP Paribas S.A., Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, HSBC Trinkaus & Burkhardt AG, Intesa Sanpaolo S.p.A., UniCredit Bank AG, Norddeutsche Landesbank and the Coöperatieve Rabobank U.A.
This financing instrument also contains an ESG component and thus fits seamlessly into the sustainable financing structure of the Nordex Group. The Company will provide further details on the transaction with its regular reporting.
The Nordex Group - a profile
The Group has installed more than 28 GW of wind energy capacity in over 40 markets and in 2019 generated revenues of EUR 3.3 billion. The company currently employs a workforce of approx. 7,500. The joint manufacturing capacity includes factories in Germany, Spain, Brazil, the United States, India, Argentina and Mexico. The product portfolio is focused on onshore turbines in the 2.4 to 5.X MW class, which are tailor-made for the market requirements in countries with limited space and regions with limited grid capacity.
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Hamburg, 07 August 2020
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