Senvion SE, a wholly owned subsidiary of the Suzlon Group, the world’s fifth- largest wind energy turbine manufacturer, has signed an agreement in late March with a consortium of banks headed by BayernLB, Commerzbank Aktiengesellschaft and Deutsche Bank AG for a syndicated working capital facilities of EUR 850 million for the period of 3 years. This move enables Senvion SE to secure follow-on financing early for the credit facilities of EUR 750 million agreed in May 2012 for the period up to August 2014.
In total, 14 international banks and credit insurance companies are participating in this financing with a term of three years, syndication of which was significantly oversubscribed. Six globally reputed financial institutions and banks with excellent ratings have been added to the banks consortium. The financing structure remains largely unchanged and primarily consists of non-Fund based (guarantee) facilities.
Suzlon Group comprises of Suzlon Energy and its subsidiaries, including Repower Systems SE. Suzlon Energy is leader in wind energy in the India, which is world’s fifth largest wind energy market. Its business model has range of services that include development, manufacturing, marketing, EPC project delivery and operations and maintenance of wind turbine generators around the world.
