A Gleiss Lutz team has advised VNG AG, a Europe-wide group of companies active in the gas and infrastructure sector, on the opening of a revolving line of credit provided by KfW. The facility is part of an overall package which also includes the expansion of an existing credit line on the part of EnBW Energie Baden-Württemberg AG, as the main shareholder of VNG AG, thus enabling VNG AG to increase its financing framework by a total of one billion euros.
By opening the revolving line of credit, VNG AG is taking a precautionary measure to increase its resilience to future changes in commodity prices on the market and the resulting security requirements within the scope of its ordinary business.
The following Gleiss Lutz team advised VNG AG: Dr. Helge Kortz (lead, partner), Dr. Andreas Kohlheim (counsel), Dr. Thomas Kulzer (counsel, all Banking and Finance, Frankfurt), Dr. Tobias Harzenetter (partner, Corporate, Munich).
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