What are Stadtwerke Düsseldorf’s defining features?
Stadtwerke Düsseldorf is one of the 10 largest public utility companies in Germany and is active in power generation, electricity, gas, water, and district heating supply, as well as waste disposal. Moreover, they invest in modern technology such as wind energy and the integrated electricity and district heat power plant “Fortuna.”
What was the Challenge?
Stadtwerke Düsseldorf wanted to become more adaptable in its response to liquidity requirements in the short term. That is why the current funding in classic project finance was converted to a long-term refinancing of entrepreneurial activities.
How can ING assist?
In a close dialog with our customers, we transformed the current funding plan into a new, flexible, and long-term financing plan with credit and capital market components. ING acted as a Mandated Lead Arranger (MLA) and as documentation agent within a syndicate credit transaction, which consisted of a revolving credit facility as well as a long-term loan. In addition, ING has been a book runner for an associated promissory note transaction.
The ING Eﬀect
Thanks to its customized financing operations, ING gave Stadtwerke Düsseldorf more options for the short-term and the long-term.