Nordex €1.4 billion refinancing

Overview:

• German wind turbine manufacturer Nordex signed a €1.4 billion refinancing agreement with a syndicate of 14 banks.
• The agreement provides for a five year credit line of €950 million, with the option to increase it to €1.2 billion, and an 18 month cash facility of €450 million.
• Nordex agreed to acquire Spanish competitor Acciona Windpower in October 2015, and the cash element of the loan will go to towards the fee for that transaction, with what remains being used to repay a bond maturing in April 2016. 
• Unicredit was documentation agent on the refinancing. 

Ben Naylor - Regional editor