Growth And Internationalization: VSB Group And Commerzbank AG Extend Syndicated Loan Agreement

Dresden, Germany - VSB, the international project developer for wind energy and photovoltaics, has increased its existing syndicated loan agreement to a volume of EUR 160 million under the leadership of Commerzbank AG. With a term of around two and a half years, it will be used for general corporate financing, VSB announced.

With the steady market growth in the renewable energy sector, the VSB Group's investments are also increasing. To secure this growth course in nine European countries, the existing agreement was not only extended, but also increased by EUR 40 million to EUR 160 million. The banking syndicate led by Commerzbank consists of long-standing financing partners at Group level and banks with existing commitments at the level of project companies for the construction of wind and photovoltaic parks.

“The syndicated loan creates flexibility and planning certainty to support VSB Group’s growth and internationalisation. We have enjoyed a long and trusting relationship with Commerzbank AG for many years. Under its leadership, we have now succeeded in optimising the financial framework for the coming years,” says Hartmut Lieder, CFO of the VSB Group.

Commerzbank wants to support the transformation of the energy industry. Tim Koenemann, Head of the Competence Center for Green Infrastructure Financing at Commerzbank: “We are delighted to have played a leading role in assisting VSB Group with this successful financing. We see it as our strategic mission to drive the energy transition and the transformation of the energy industry.”

Source: IWR Online, Apr 04 2024