Press release BoxID: 265760 (Senvion SE)
  • Senvion SE
  • Überseering 10
  • 22297 Hamburg
  • Contact person
  • Daniela Puttenat
  • +49 (40) 5555090-3024

REpower Systems AG receives growth finance of EUR 600.0 million

(PresseBox) (Hamburg, ) On May 26, 2009, REpower Systems AG (WKN 617 703) signed an agreement with a consortium of banks led by Bayerische Hypo- und Vereinsbank AG, Deutsche Bank AG, Dresdner Kleinwort - a brand of Commerzbank AG - Euler Hermes Kreditversicherungs-AG, HSH Nordbank AG, and The Royal Bank of Scotland plc for a syndicated loan of EUR 600.0 million. The book runners are Deutsche Bank AG and Dresdner Kleinwort.

The loan, with a term of three years, consists of one tranche of EUR 500.0 million for the provision of warranties and guarantees and a second tranche of EUR 100.0 million as working capital. In total, twelve German and international banks and loan insurances companies are participating in this loan, syndication of which was slightly over subscribed.

REpower's CFO Pieter Wasmuth stressed the importance of this contract for the company's growth: "We are delighted that the banks and credit insurances are placing their trust in us in these economically turbulent times and are supporting our development by significantly widening our lines of credit. By concluding this finance agreement, the course has been set for REpower's ambitious growth targets."

Senvion SE

REpower Systems AG is one of the leading manufacturers of onshore and offshore wind turbines. The international mechanical engineering company develops produces and markets wind turbines with rated outputs of 2 to 6.15 MW and rotor diameters of 82 to126 meters for almost any location. In addition to this, it offers an extensive range of service and maintenance services. The profitable and reliable systems are designed at the REpower development center in Rendsburg and manufactured at its Husum (North Friesland), Trampe (Brandenburg), and Bremerhaven plants. The company, which is headquartered in Hamburg and has been listed since March 2002, has over 1,700 employees worldwide and can draw on experience gained in the manufacture and installation of almost 2,000 wind turbines worldwide. REpower is represented by distribution partners, subsidiaries and participations in foreign markets such as France, Belgium, Great Britain, Italy, Portugal, and Spain, as well as on a global level in the USA, Canada, Japan, China and Australia.