Hamburg – The utility EnBW Energie Baden-Württemberg AG has entered into a 500 million euro facility agreement with an international banking syndicate comprising BBVA, BNP Paribas and Commerzbank. The outstanding loan plus interest is secured by an 80 per cent guarantee from the Italian insurance and financial group SACE under its Push Strategy programme. In accordance with the requirements of this programme, the facility agreement provides for cooperation between EnBW's procurement department and SACE to boost and strengthen business relationships with Italian suppliers. The facility is also linked to ambitious sustainability performance indicators that applied to another syndicated credit facility of EnBW from 2024.
An international CMS team led by Dr Marc Riede and Dr Julia Runge provided EnBW with comprehensive legal advice in connection with the drafting and negotiation of the finance documentation. CMS regularly advises EnBW in complex financing transactions.
EnBW's in-house legal team was led by the lawyer Nils Katzmark.
EnBW Energie Baden-Württemberg AG is one of the largest utilities in Germany and Europe. The company operates in the fields of generation and grids as well as end customer business.
Press Contact
presse@cms-hs.com
