CMS advises raw materials producer Neptune Energy on its successful refinancing

Stuttgart – The raw materials producer Neptune Energy has successfully completed its refinancing and transferred its reserved based lending facility into a new revolving guarantee facility with an initial term of three years. The innovative structure brings together banks, insurance companies and international commodity traders under a common contractual framework, makes it possible to secure mining decommissioning and recultivation obligations in particular and is regarded by the parties involved as a pioneering model for the industry.

A CMS team led by Anne Waßmuth and Dr Marc Seibold provided comprehensive legal advice to Neptune Energy on the refinancing. The advice included structuring and implementing the financing, drafting the contracts and negotiating with the lenders involved. With its expertise in Banking & Finance, the CMS team was able to cover the special requirements of complex financing and hedging models.

Neptune Energy is a Hanover-based raw materials producer focussing on the extraction of natural gas and crude oil in Germany. The company contributes significantly towards security of supply and is also involved in the transformation of the energy sector. With the new financing structure, Neptune Energy is reducing its borrowing costs, gaining additional flexibility and simultaneously setting an example for responsible behaviour. The company is also currently developing one of the world's largest projects for extracting lithium from deep waters in Saxony-Anhalt.

The lenders under the new financing include Commerzbank AG, UniCredit Bank GmbH and Swiss Re International SE, which jointly led the transaction. In total ten international partners were involved in the refinancing. 

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