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Siemens Gamesa extends its €2.5 billion syndicated financing facility

Siemens Gamesa extends its €2.5 billion syndicated financing facility
Siemens Gamesa extends its €2.5 billion syndicated financing facility

Siemens Gamesa has bolstered its long-time period investment shape through securing an development inside the situations of its foremost financing facility and incorporating sustainability standards. The operation become fantastically a success, securing commitments from 22 banks and being extra than 50% oversubscribed.

Specifically, the agency has prolonged the maturity of its €2.Five billion syndicated facility, arranged in May 2018 with diverse domestic and international banks. This consists of a €500 million loan and a €2 billion, multi-foreign money, revolving credit facility, maturing in 2022 and 2024, respectively. The budget can be used to finance routine activity, which is now covered for the following five years.

Moreover, the reality that its credit score great is rated as funding grade by means of the primary score agencies — Standard & Poor’s, Moody’s and Fitch — has enabled the employer to at ease extra bendy terms and situations for its financing.

Another novelty on this operation has been the inclusion of environmental, social and corporate governance (ESG) standards, consistent with the enterprise’s new green financing strategy. “Sustainability is a essential pillar for Siemens Gamesa’s complete enterprise version, so we endeavour to ensure that all our financial operations are completely aligned with sustainability criteria. This in addition underpins our enterprise’s commitment to the UN Sustainable Development Goals (SDGs) in terms of ‘Affordable and smooth electricity’ and ‘Climate motion’, even as additionally evidencing our dedication to developing a better future for people and for the planet,” noted David Mesonero, CFO of Siemens Gamesa.

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