Freshfields advises on Nordex Group’s €2.4B refinancing
Freshfields has advised on the Spanish aspects of Nordex Group’s new €2.475 billion ESG-linked multicurrency syndicated guarantee facility, a transaction that provides the wind turbine manufacturer with a more flexible and cost-efficient financing framework through 2031.
The five-year facility replaces Nordex’s previous guarantee lines and includes improved financial terms, notably a significant reduction in financing costs. The transaction is designed to support the group’s global operations and provide additional flexibility to issue guarantees linked to customer projects and contractual obligations across multiple jurisdictions.
The financing was backed by a syndicate of 15 financial institutions. Commerzbank acted as bookrunner and facility agent, while Intesa Sanpaolo IMI CIB served as global coordinator, bookrunner and sustainability coordinator. UniCredit Bank GmbH acted as bookrunner, documentation agent and process coordinator. Freshfields and Clifford Chance provided legal advice on the transaction.
According to Nordex chief financial officer Ilya Hartmann, the refinancing marks the completion of the transformation programme undertaken by the company over the past five years. Following the strengthening of its balance sheet, the recovery of its business performance and the achievement of its medium-term strategic objectives, the new facility provides a stable financial platform to support future growth.
The team
The Freshfields team advising on the Spanish leg of the transaction included Ana López, Inés Colás Ybáñez and Raquel María Cuesta Gómez.
