Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised DAX 40 listed Siemens Energy AG (‘Siemens Energy’) on the conclusion of a €4 billion multicurrency revolving credit facility, which also includes a swingline facility for any short-term financing requirements.

The new revolving credit facility was entered into with a consortium of 26 banks and has a term of five years, with extension options for up to two additional years. The facility is sustainability-linked, which means the financing costs are linked to the fulfilment of certain key performance indicators (KPI) referring to environmental, social and/or corporate governance criteria (Environmental, Social and Governance, ESG). It replaces both an existing revolving credit facility of Siemens Energy and an existing revolving credit facility of Siemens Gamesa.

The Freshfields team was led by Partner Dr Frank Laudenklos as well as Principal Associate Dr Dennis Chinnow with support by Associates Laura Korndörfer and Hannes Butz (all Finance, Frankfurt). The team also included Partner Dr Philipp Redeker (Tax, Düsseldorf), Principal Associate Christian Schmidt (Tax, Frankfurt), Partner Thijs Flokstra, Counsel Tim Elkerbout and Associate Juliette Willems (all Finance, Amsterdam).

Inhouse at Siemens Energy AG, the project was supported on the legal side by Dr Joachim Wolf (Head of Legal Treasury & Finance) and Dr Anne Janert-Wöllner (Senior Legal Counsel).