Simmons & Simmons has advised Pricoa Private Capital, UniCredit Bank AG and a consortium of other institutional investors on the €275m senior debt financing for Enpal GmbH in a complex financing structure combining structured notes issuances with a KfW refinancing bank facility.
Enpal is the largest provider of solar solutions for homeowners in Germany, with over 10,000 customers. Enpal offers PV solar panel systems and batteries in a leasing model, which eliminates high investment costs for homeowners. After 20 years of operation, the system can be purchased for only one euro. For prospective customers, Enpal offers a comprehensive package including consultation and planning. The installation is carried out by Enpal installers or certified partners.
Enpal will use these funds to refinance the installation of more than 15,000 PV systems.
The Simmons & Simmons team was led by banking partner Dr Jens Gölz, assisted by Peter Louzensky, Michael Böger and Stella Madzharova.