EQS-News: ABO Energy concludes syndicated loan agreement for €240 million

ABO Energy has concluded its first syndicated loan agreement. Seven banks participated in the agreement, which was led by Commerzbank. The financing volume amounts to €240 million and is divided equally between traditional loans, revolving working capital facilities and guarantee lines. The syndicated loan largely replaces existing loans and promissory notes. Additional funds will be used to finance the growing project volume.

“The syndicated loan is an important step for our company,” says Alexander Reinicke, Managing Director of ABO Energy. “We are delighted to have secured the necessary funds to continue our successful course and develop and construct more wind, solar and storage projects. The syndicated loan confirms the financial community's confidence and interest in our forward-looking company.” The transaction also attracted considerable interest from banks that had not previously contributed to ABO Energy's financing. Renowned German and international institutions participated in the syndicated loan on standard market terms and conditions and maturities. This strengthens the diversification and stability of the financing concept. Commerzbank acted as sole bookrunner and agent. CliffordChance acted as legal advisor to the banks and Noerr PartGmbB acted as legal advisor to ABO Energy.

Tim Koenemann, Head of Commerzbank's Centre of Competence Green Infrastructure Finance, adds: “Long-standing entrepreneurial success and an impressive project pipeline contribute to ABO Energy's attractiveness and future viability. As one of the leading banks in the green infrastructure sector, we are delighted to support this innovative and sustainable financing and thus contribute to the energy transition on an international scale.”