Clifford Chance secures €240M syndicated loan for ABO Energy’s green projects
Clifford Chance, a leading international law firm, has successfully advised lenders on a €240 million syndicated credit facility for ABO Energy GmbH & Co. KGaA. This is the first time Clifford Chance has assisted in structuring such a deal for ABO Energy.
The Clifford Chance team was led by partner Simon Reitz from the Global Financial Markets practice in Frankfurt. The credit facility, completed in October 2023, is divided into three segments: traditional term loans, revolving working capital lines, and guarantee (aval) facilities. It is led by Commerzbank as documentation agent, with seven banks participating in the deal.
ABO Energy was advised by law firm Noerr, with partner Alexander Schilling leading the team. The credit facility is designed to strengthen ABO Energy's liquidity, replacing existing loans and promissory notes, and support sustainable energy projects. Commerzbank also acted as arranger and consortium lead, marking ABO Energy's first consortium credit agreement.
The €240 million financing, advised by Clifford Chance, is a significant boost for ABO Energy's liquidity and supports its commitment to sustainable energy projects. The deal was led by Clifford Chance partner Dr. Christian Schmid and saw Commerzbank as the documentation agent and consortium lead.
