HSH succeeds in entering the Portuguese market with the refinancing of 2 solar plants
Hamburg/Kiel, December 13, 2017 - HSH Nordbank will provide the independent French energy producer Neoen long-term loans amounting to about € 30 million to refinance two solar plants in Portugal.
The refinancing, in which two other banks are involved in a club deal, totals € 60 million. This involves HSH Nordbank for the first time providing financing in the form of secured bonds, which are issued under the terms of project financing and in line with financing standards for such projects in Portugal. The two solar plants, which are both in operation and both located near Lisbon in Seixal and Cabrela, together have a total rated output of 22 megawatt peak (MWp). HSH Nordbank has succeeded in entering the Portuguese market with this transaction.
Neoen was established in 2008 and is headquartered in Paris and became a leading French renewable energy company. Neoen is also active internationally, with projects located for instance in Australia and Salvador.
“This refinancing is very appealing to us for several reasons,” Lars Quandel, Head of Energy & Infrastructure at HSH Nordbank, said. “We gained Neoen as a new client and created a new product in our Bank with this transaction that is exceptionally well suited for follow-on business.”
The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
This press information can contain forward-looking statements. These statements are based on our beliefs and assumptions, on information currently available to us which we consider reliable. Forward-looking statements include all statements which are not historical facts, including information concerning future growth prospects and future economic developments.
Such forward-looking statements are based on assumptions relating to future events and are subject to uncertainties, risks and other factors, a large number we cannot influence. Thus actual events can differ considerably from the forward-looking statements made. We make no warranty for the correctness or completeness of these statements or the actual occurrence of the statements made. Furthermore, we assume no obligation for updating the forward-looking statements after this information has been published.