Hamburg: Senvion SE, a wholly owned subsidiary of the Suzlon Group, the world’s fifth-largest* wind energy turbine manufacturer, signed an agreement in late March with a consortium of banks headed by BayernLB, Commerzbank Aktiengesellschaft and Deutsche Bank AG for a syndicated loan of EUR 850 million. This move enables Senvion 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 new high-profile names with excellent ratings have been secured to the consortium. The financing structure remains largely unchanged and chiefly consists of guarantee facilities.
Marcus A. Wassenberg, CFO of Senvion SE, emphasises the importance of this agreement for the company: “Particularly in the current political and economic environment in our sector, the confidence of our banks and credit insurance companies is confirmation of Senvion’s strategic orientation. The EUR 100 million increase in our credit facilities also sends a strong signal to our customers.”
About Senvion:
Senvion SE, a wholly owned subsidiary of the Suzlon Group, is one of the world’s leading manufacturers of onshore and offshore wind turbines. The international mechanical engineering company develops, produces and markets wind turbines for almost any location – with rated outputs of 1.8 MW to 6.15 MW and rotor diameters of 82 metres to 152 metres. Furthermore, the company offers its customers project specific solutions in the areas of turnkey, service and maintenance, transport and installation, as well as foundation planning and construction. The profitable and reliable systems are designed at the Senvion TechCenter in Osterrönfeld and manufactured at its plants in Husum (North Friesland), Trampe (Brandenburg) and Bremerhaven, as well as Portugal, India and China. With more than 3,300 employees worldwide, the company – headquartered in Hamburg – makes use of the experience gained from the manufacture and installation of more than 5,000 wind turbines around the world. Senvion is represented by distribution partners, subsidiaries and participations in European markets such as France, Belgium, the UK, Italy, Portugal, Sweden, and Poland as well as on a global level in the USA, China, Australia and Canada. Visit us at www.senvion.com
About Suzlon Group:
The Suzlon Group is ranked as the world’s fifth largest* wind turbine supplier, in terms of cumulative installed capacity and marketshare, at the end of 2012. The company’s global spread extends across Asia, Australia, Europe, Africa and North and South America with over 22,500 MW of wind energy capacity installed, operations across over 30 countries and a workforce of over 10,000. The Group offers one of the most comprehensive product portfolios – ranging from sub-megawatt onshore turbines at 600 Kilowatts (KW), to the world’s largest commercially-available offshore turbine at 6.15 MW – with a vertically integrated, low-cost, manufacturing base. The Group – headquartered at Suzlon One Earth in Pune, India – comprises Suzlon Energy Limited and its subsidiaries, including Senvion SE. Visit us at www.suzlon.com
