Global law firm Freshfields has advised Siemens Energy AG, a leading international energy technology company, on a new €9 billion guarantee facility that replaces both the €11 billion state-backed facility and a separate €1 billion facility each agreed in 2023. The new facility is provided by a consortium of 23 international banks and supports Siemens Energy’s project business with a term of five years.

The refinancing reflects Siemens Energy’s improved financial performance, including stronger margins, improved cash flow and a more resilient balance sheet. The new facility allows Siemens Energy to secure future project contracts on a standalone basis, without the need for state guarantees.

Freshfields had previously advised Siemens Energy on the original guarantee package in 2023, which included a counter-guarantee by the Federal Republic of Germany (press release), as well as on the conclusion of a €4 billion sustainability-linked revolving credit facility in 2024 (press release).

The Freshfields team was led by Partner Frank Laudenklos with the support of Principal Associates Dennis Chinnow and Laura Korndörfer (all Finance, Frankfurt). The team also included Partner Sebastian Röger and Principal Associate Christian Schmidt (both Tax, Frankfurt).