Heuking advises energy provider ENERVIE on complex refinancing transaction with sustainability component

With a team led by Düsseldorf-based partner Dr. Guido Hoffmann, Heuking advised ENERVIE – Südwestfalen Energie und Wasser AG on a EUR 170 million refinancing transaction. 

The refinancing transaction consists of a syndicated loan led by Nord/LB, Schuldscheinen, bilateral bank loans, and government backed infrastructure loans. ENERVIE took advantage of the current market environment and obtained medium- and long-term credit facilities that offer to the group enhanced flexibility in terms of pursuing its growth strategy.

ENERVIE’s CEO Erik Höhne is glad about the successful closing with the banks: “The early refinancing and the continuous level of trust and interest shown by financial institutions demonstrates to us that ENERVIE’s development over the past years is well recognized and its focus on the future of energy supply and related services is highly appreciated.”

As part of the refinancing transaction, the existing syndicated loan from 2017 was prepaid in full a. With the new syndicated loan, ENERVIE and the finance parties commit to the ESG sustainability criteria (ESG = Environment, Social and Governance) through an agreement of an independent ESG rating and corresponding interest margin grid.

Hagen-based ENERVIE group is a merger of regional energy supplier and power plant operator Mark-E, Stadtwerke Lüdenscheid, and grid company ENERVIE Vernetzt. ENERVIE Group supplies some 400,000 customers with electricity, gas, drinking water, and energy-related services. It generates annual sales of about EUR 1 billion.

Heuking Kühn Lüer Wojtek has regularly advised ENERVIE group on financing matters since 2015.

Counsel to ENERVIE – Südwestfalen Energie und Wasser AG
Heuking Kühn Lüer Wojtek:
Dr. Guido Hoffmann, LL.M. (Lead)
Matthias Bosbach (both Finance), both Düsseldorf
 
Commercial counsel
Ernst & Young:
Britta Becker,
Tobias Kampmann
 
Legal counsel to syndicated banks 
Taylor Wessing:
Sabine Schomaker