REpower Systems AG receives growth finance of EUR 600.0 million

Hamburg: On May 26, 2009, REpower Systems AG (WKN 617 703) signed an agreement with a consortium of banks led by Bayerische Hypo- und Vereinsbank AG, Deutsche Bank AG, Dresdner Kleinwort – a brand of Commerzbank AG – Euler Hermes Kreditversicherungs-AG, HSH Nordbank AG, and The Royal Bank of Scotland plc for a syndicated loan of EUR 600.0 million. The book runners are Deutsche Bank AG and Dresdner Kleinwort.

The loan, with a term of three years, consists of one tranche of EUR 500.0 million for the provision of warranties and guarantees and a second tranche of EUR 100.0 million as working capital. In total, twelve German and international banks and loan insurances companies are participating in this loan, syndication of which was slightly over subscribed.

REpower’s CFO Pieter Wasmuth stressed the importance of this contract for the company’s growth: “We are delighted that the banks and credit insurances are placing their trust in us in these economically turbulent times and are supporting our development by significantly widening our lines of credit. By concluding this finance agreement, the course has been set for REpower’s ambitious growth targets.”