Advising Prime Capital AG on mezzanine financing

13 Aug 2019

A fund, managed by Prime Capital AG, has closed a mezzanine financing of NEAG Norddeutsche Energie Invest 3 GmbH by issuing bearer bonds with a total value of up to €36.8m due 2039. The proceeds from the issue will be used to further finance NEAG investments in, and the development of, wind farm projects throughout Europe.

The bond will be issued in two tranches, the first on 15 May 2019 and the second on 05 August 2019.

Prime Capital AG was comprehensively advised on this mezzanine financing by a Simmons & Simmons team consisting of banking partner, Dr Jens Gölz and DCM partner, Dr Felix Biedermann (both Lead) as well as Counsel Dr Gabriele Röhl, Supervising Associate, Peter Louzensky and Associate, Patricia Schneider.

Banking partner Dr Jens Gölz, who joined the Frankfurt office of Simmons & Simmons in February 2019, comments on the financing: "This complex transaction reflects the current market needs of project developers in Germany and throughout Europe. New mezzanine and equity structures are currently in great demand to enable further market investments for renewable energies. I am delighted that this transaction has been successfully completed in close cooperation with the DCM team of Simmons & Simmons under the leadership of my partner Dr Felix Biedermann".

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