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Allen & Overy advises Siemens Gamesa on its billion-euro debut in the syndicated credit market

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Uebelhoer Walter
Dr Walter Uebelhoer



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05 June 2018

​Allen & Overy LLP has advised Siemens Gamesa Renewable Energy S.A. ("Siemens Gamesa") on concluding a EUR 2.5 billion syndicated loan.

This is the first transaction in the syndicated credit market for Siemens Gamesa. 

The syndicated loan replaces a EUR 750 million credit facility dating from 2017 and is to serve general corporate purposes and the refinancing of existing debt.  The financing includes a EUR 2 billion revolving credit facility due in 2023 with two extension options of one year each and a EUR 500 million credit facility due in 2021. 

The banking syndicate comprising 25 banks was coordinated by Banco Bilbao Vizcaya Argentaria, S.A., German branch, BNP Paribas S.A. Sucursal en España and Commerzbank Aktiengesellschaft; Commerzbank Aktiengesellschaft also acted as documentation agent.

The Allen & Overy team acting for Siemens Gamesa Renewable Energy S.A. comprised partner Dr Walter Uebelhoer and associate Dr Rauni Ahammer (both Banking & Finance, Munich). 

The syndicate of financing banks was advised by Freshfields Bruckhaus Deringer (Dr. Frank Laudenklos and Dr. Simon Reitz).

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