GIP €780 million acquisition of 50% of Gode Wind 1 project

15/9/2015

Acquisition finance, Private acquisition, Project bond issue

Value:

€ 780 million

Dollar value:

$ 880.854 million

Status:

Completed

Date:

15/9/2015

Overview:

Global Infrastructure Partners (GIP) acquired a 50% stake in energy project Gode Wind 1 for €780 million.
Gode Wind 1 is an offshore wind project being developed in the German North Sea by Denmark based company Dong Energy, which will have a production capacity of 330MW when complete.
GIP financed its investment in Gode 1 with a €556 million green bond issue and €320 million loan.
German insurer Talanx led the consortium of banks arranging the bond and the debt financing.

Ben Naylor - Regional editor

Jurisdiction:

Germany

Deal types:

Acquisition finance
Private acquisition
Project bond issue

Practice area:

M&A

Industry sector:

Energy

Firms:

Clifford Chance

Party: Global Infrastructure Partners (Acquirer)

Lawyers: Björn Heinlein, Florian Mahler, Gregor Evenkamp, Mathias Elspaß

Freshfields Bruckhaus Deringer

Party: Talanx AG Na ON (Lead arranger, Lender)

Lawyers: Bernhard Kaiser, Wessel Heukamp

Hengeler Mueller

Party: Dong Energy (Seller)

Lawyers: Jens Wenzel, Nicolas Böhm, Nikolaus Vieten

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