Freshfields advises KfW on credit agreement for VNG
Global law firm Freshfields Bruckhaus Deringer has advised KfW on the conclusion of a revolving credit facility for VNG AG. The revolving credit line is part of an overall package which also includes an increase of an existing credit line on the part of EnBW Energie Baden-Württemberg AG as the main shareholder of VNG AG. Through the overall package VNG AG was able to increase its financings in an aggregate amount of one billion euros.
With the revolving credit facility, VNG AG is as a precautionary measure strengthening its resilience to future market developments in commodity prices and the resulting margining requirements in the ordinary course of business.
The Freshfields team comprised Frank Laudenklos (Lead), Dennis Chinnow and Laura Korndörfer (all Finance, Frankfurt), Andreas von Bonin (State Aid Law, Brussels) and Florian Reiter-Werzin (State Aid Law, Vienna).