Allen & Overy advises M&G Investments on Germany's first solar securitisation by Enpal
Related people
Press contacts
For media enquiries relating to this topic, please contact:
Headlines in this article
Related news and insights
Publications: 27 March 2024
Hydrogen update Germany - new regulatory and market developments
News: 27 March 2024
Allen & Overy advises SBI Group on its investment in Solaris
News: 07 March 2024
Advising banks on TUI’s EUR 500m sustainability-linked senior notes
News: 20 February 2024
Allen & Overy advises Uniper on sale of Hungarian gas fired power plant Gönyű to Veolia
The notes, in the form of an asset-backed securities facility (ABS facility), consist of EUR 56 million secured mezzanine loan commitments by funds managed by M&G and EUR 300 million senior loan commitments by investment bank Citi. This transaction marks Germany's first residential solar securitsation and the launch of a new European asset class. Enpal will use the funds to finance 12,500 PV systems.
On 4 May 2023, the transaction won trade journal GlobalCapital's "Private Securitisation of the Year" award for 2023.
The Allen & Overy team was led by partner Martin Scharnke and included counsel Dr Daniela Schmitt, associate Sascha Fröhlig and senior transaction officer Corinna Dreyer (all Capital Markets, Frankfurt). The team was also supported by lawyers from Allen & Overy's Amsterdam office.