DGAP-News: Nordex SE / Key word(s): Financing
Nordex Group refinances successfully its guarantee credit facility for three years
– EUR 1.21 billion guarantee credit facility tied to ESG criteria
– International banking syndicate comprising 21 banks and insurances
– Two one-year renewal options
Hamburg, 27 April 2020. The Nordex Group refinanced successfully its guarantee credit facility of EUR 1.21 billion for three years until April 2023. The guarantee facility provided by an international banking syndicate allows the Nordex Group to secure its project business with customers with bank guarantees in the respective main currencies.
“Given the difficult market environment, this refinancing is an extraordinary success which we owe to our partner banks, who have made this possible by showing their confidence in Nordex and their untiring support,” says Christoph Burkhard, CFO of the Nordex Group.
Comprising 21 national and international banks and insurances, the banking syndicate led by Banca IMI (Intesa Sanpaolo Group), BNP Paribas, Commerzbank, HSBC and UniCredit Bank has a strong foundation. In view of the continuing positive order intake trend and the Group’s numerous international projects, this guarantee facility is of great importance for Nordex. The facility is unsecured and also includes an ancillary facility of EUR 100 million, which can be used to draw on bilateral bank loans or guarantees.
This guarantee facility has been certified as sustainable after having received a B rating under ESG criteria by ISS Oekom, a leading global provider of sustainability analyses. This means that the Nordex Group now has a further sustainable financing instrument in place in addition to the “green” promissory note and the Green Bond.
The guarantee facility has an initial tenor of three years and is scheduled to mature in April 2023. The facility includes the option of extending it twice for another year each time, but requesting prior approval by lenders.
About the Nordex Group
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THE NORDEX GROUP
The Nordex Group
The Group has installed more than 28 GW of wind energy capacity in over 40 markets and generated sales of around EUR 3.3 billion in 2019. The company has around 7,500 employees. 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 designed to meet the market requirements of countries with limited available space and regions with limited grid capacity.