Hengeler Mueller advises TenneT Germany in connection with an external revolving credit facility of €12 bn

TenneT Germany has successfully concluded a new revolving credit facility in the principal amount of €12 bn with BNP Paribas, Deutsche Bank, ING and UniCredit as coordinators, underwriters and mandated lead arrangers.

The revolving credit facility was entered into in the context of securing equity financing through the participation of three international investors in TenneT Germany and is the first group-external financing of TenneT Germany. It constitutes an important building block in covering the requisite liquidity for the financing of the expansion of the extra-high voltage grid of TenneT Germany in the coming years.

The credit facility is also available as a swingline facility and for utilisations in the form of ancillary facilities and has a term of five years with two one-year extension options. The agreement also provides for the option to increase the amount of the facility by up to a further €3 bn. Syndication of the facility is expected to be completed by the end of October 2025.

Hengeler Mueller Team for TenneT Germany

Financing: Daniela Böning (partner), Tobias Chowdhury (counsel), Pascal Brandt (senior associate, all Frankfurt).