Techem €815 million financing

Overview:

• German energy metering group Techem agreed an €815 million refinancing of its senior debt facilities with a syndicate of banks. 
• The refinancing agreement provides for an extension of Techem's existing €610 million facilities to 2020 and an additional loan of €230 million, in addition to reducing its borrowing costs and introducing more flexible terms.  
• Bank of America Merrill Lynch, Barclays, BNP Paribas, Commerzbank, Crédit Agricole, Deutsche Bank, JP Morgan, Morgan Stanley, Royal Bank of Scotland and UniCredit were among the lenders involved.
• Techem is owned by Australian infrastructure investor Macquarie, which bought it for $2.13 billion in 2007.  

Ben Naylor - Regional Editor