Senvion €1.35 billion refinancing

Overview:

• Senvion refinanced €1.35 billion of its debt - a combination of a bank loan and high yield green bond - securing new terms it said will save the business more than €14 million annually. 
• The German wind turbine manufacturer refinanced a €400 million senior secured bond - replacing 6.625% notes due 2020 with 3.875% notes due 2022 - and €950,000,000 in revolving credit and guarantee facilities, reducing the margins on the loans by 50 basis points.
• Deutsche Bank and JP Morgan led the consoritum of banks involved in the deal. 

Katrin Kostadinova - Data analyst