Financing structure
A group of 7 commercial lenders: KBC, Rabobank, Société Générale, KfW Ipex-Bank, Commerzbank, Belfius and ASN Bank together with export crecit agencies Euler-Hermes of Germany and EKF of Denmark, and the European Investment Bank will provide between them long term facilities totaling € 869 M.
The financing structure is composed of 3 different facilities: EIB Facility, Turbine Facility and Commercial Facility.
- EIB provided a large funding ticket (EIB facility = 450 M) with a risk cover for about 150 M. EKF guarantees a second part of this facility for an amount of 45 M. The rest of is guaranteed by commercial lenders (255 M);
- Euler Hermes, as German export agency covers 85% of the REpower contract and the premium and costs associated to the cover (Turbine Facility = 400 M). However, the funding of the corresponding amounts is done by the Commercial Lenders;
- The Commercial Facility is smaller facility (18.8 M) funded and guaranteed by Commercial Lenders.
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Remark: Helaba took over a part of the KfW particpation in May 2011 (after the financial close)