REpower Systems SE receives growth finance of EUR 750.0 million
Hamburg, 01 March 2012. REpower Systems SE yesterday signed an agreement with a consortium of banks headed by BayernLB, Commerzbank Aktiengesellschaft and Deutsche Bank AG for a syndicated loan of EUR 750.0 million. This move enables REpower to secure follow-on financing early for the credit facilities of EUR 600.0 million agreed in May 2009.
The loan has a term of 2.5 years. In total, 13 German and international banks and credit insurance companies are participating in this loan. Aside from the present institutions, three other high-profile names have been secured for this follow-on financing.
REpower’s CFO Derrick Noe stresses the importance of this agreement for the company: “The confidence that our banks and credit insurance companies are showing in our strategy is an important sign for all our stakeholders, especially given the current difficult environment in our industry. Increasing our credit lines by 25% has put us in a good position to continue the profitable growth course seen in past years. Actually, we are growing faster than our competitors and are gaining significant market shares. We expect a double-digit growth for both, sales and earnings, for the current as well as for the next fiscal year.”
REpower Systems SE, a wholly owned subsidiary within 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 126 metres. Furthermore, the company offers its customers project specific solutions in the areas turnkey, service and maintenance, transport and installation, as well as
foundation planning and construction. The profitable and reliable systems are designed at the REpower TechCenter in Osterrönfeld and manufactured at its plants in Husum (North Friesland), Trampe (Brandenburg) and Bremerhaven as well as Portugal and China.
With just under 2,700 employees worldwide the company headquartered in Hamburg can make use of the experience gained from the manufacture and installation of around 3,600 wind turbines around the world. REpower is represented by distribution partners, subsidiaries and participations in European markets such as France, Belgium, the UK, Italy, Portugal, Sweden, Poland and Spain as well as on a global level in the USA, China, Australia and Canada.