White & Case advises bank consortium on landmark €1 billion financing for BEW

Global law firm White & Case LLP has advised a banking consortium led by KfW IPEX-Bank and IKB Deutsche Industriebank on the syndicated €1 billion financing for BEW Berliner Energie und Wärme GmbH (BEW).

The financing supports the implementation of BEW's key transformation projects aimed at gradually making Berlin's heat supply climate neutral in line with its decarbonization roadmap. For a district heating company in Germany, this syndicated financing is the first transaction of its kind.

The financing combines long-term promotional conditions provided by KfW with loan facilities made available by a bank consortium of nine. With its volume, structure and maturities of up to 20 years, it sets new standards in the German loan market for energy infrastructure companies. The financing builds on a previously implemented bridge financing for BEW and converts it into a long-term stable structure. It is based on the classification of BEW's key transformation projects as particularly eligible for funding under the KfW promotional programs. In total, projects with a volume of approximately €1.6 billion are being prioritized. These include modern energy parks, combined heat and power plants, power-to-heat plants and investments in new heat generation systems.

The White & Case team from Hamburg which advised on the transaction was led by partner Florian Degenhardt and included local partner Roland Arlt and associates Dana Masberg and Sarah Bischoff.

Press contact
For more information please speak to your local media contact.