Noerr advises syndicate banks on debut syndicate financing for FENECON GmbH

A Noerr team headed by Michael Schuhmacher has advised the syndicate banks in connection with the conclusion of a debut syndicated €40 million loan agreement for FENECON GmbH. The transaction was arranged and structured by UniCredit Bank GmbH. In addition to UniCredit Bank GmbH, Commerzbank Aktiengesellschaft, Norddeutsche Landesbank – Girozentrale –, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main and Sparkasse Deggendorf acted as lenders.

The revolving credit line gives FENECON GmbH the financial flexibility for continued growth. The term of the syndicated loan agreement is three years with two options for extension and an increase option.

FENECON GmbH is a leading provider of energy storage solutions, developing and producing innovative home storage, commercial and industrial storage, as well as energy management software developed in-house. The systems integrate solar farms, electric vehicles and other renewable energy sources to increase self-sufficiency and cut electricity costs. In addition, FENECON GmbH’s subsidiary FERESTO offers a wide range of ultramodern energy storage equipment for hire.

Advisors to the syndicate banks: Noerr

Team lead: Michael Schuhmacher (partner, Banking & Finance, Frankfurt)

Banking & Finance: Ana-Maria Mirceta (senior associate), Linh Hoang (senior associate), Maria Bozhenova (associate, all Frankfurt)

Tax: Andre Happel (partner), Thomas Renner (senior associate), Antonia Bach (associate, all Frankfurt)

Advisors to FENECON GmbH: Hogan Lovells International LLP