Corporate News

Encavis AG signs sustainable ESG syndicated loan of 125 million euros with a term of up to five years


Hamburg, August 16, 2021 - MDAX-listed Hamburg-based wind and solar park operator Encavis AG (ISIN: DE0006095003, Prime Standard, stock exchange symbol: ECV) signed for the first time a sustainable revolving credit facilities agreement under the syndicate leadership of its long-standing banking partner Commerzbank AG.


The Sustainable Revolving Credit Facilities Agreement with a volume of 125 million euros is an unsecured financing with a term of three years with two extension options for a further year each. The core of the syndicated loan is a revolving 100 million euro hunting line for fast interim financing of Encavis AG's investments in new wind and solar parks. A further revolving credit line of 25 million euros is used for working capital financing.

"The new revolving hunting line enables Encavis to act even faster in realising projects to fulfill our growth strategy >> Fast Forward 2025. Regardless of fluctuations in the capital markets, investments of the AG can be made at short notice - an important strategic milestone in the wide range of instruments of our corporate financing," welcomed Dr Christoph Husmann, CFO of Encavis AG, the flexibility gained at the holding company level.

The syndicated loan meets the ESG criteria and is classified as sustainable finance. According to Encavis AG's ESG rating with MSCI, the margins of the syndicated financing are adjusted. Coöperatieve Rabobank U.A. acted as Sustainability Coordinator. The loan consortium led by Commerzbank consists of, on the one hand, long-standing financing partners at the holding level and, on the other hand, banks with previously existing exposure at the level of the project companies. The other lenders in the consortium are Bayerische Landesbank, Coöperatieve Rabobank U.A., Landesbank Baden-Württemberg and DZ Bank AG.

Anton von Rotenhan, Director at Commerzbank's Center of Competence Energy: "We are pleased to have supported Encavis in this successful debut financing. This is an exemplary contribution to our sustainable finance strategy, with which we are advancing the energy transition and the transformation of the energy industry. We are convinced that the credit line is a key instrument for achieving the company's goals and we are pleased to continue supporting Encavis therein."

Legal advice was provided by the law firms Taylor Wessing (Clemens Niedner), Frankfurt/Main, for Encavis AG and Allen & Overy (Dr Ilja Baudisch), Munich, for the lenders.

About ENCAVIS:
Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from renewable energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates solar parks and (onshore) wind farms in ten European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group's total generation capacity currently adds up to around 2.8 gigawatts (GW), which corresponds to a total saving of 1.26 million tons of CO2 per year. Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors.

Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with "AA" and ISS ESG with their "Prime" label.

Additional information can be found on www.encavis.com

Contact:
Encavis AG
Jörg Peters
Head of Corporate Communications & IR
Tel.: + 49 (0)40 37 85 62 242
E-Mail: [email protected]