Noerr advises lenders on long-term restructuring financing of BayWa r.e. AG to end of 2027

A team from Noerr headed by Andreas Naujoks, Marlies Raschke and Dorian Legel has advised the lenders of BayWa r.e. AG on agreeing the main features of a long-term financing solution for the company. 

BayWa is Germany’s largest agricultural and building materials trader, with 25,000 employees worldwide. It has been increasingly investing in the renewables business (mainly wind and solar farms, but also solar modules) through its subsidiary BayWa r.e. AG, running up significant debt in the process.

The lenders represented by the Noerr team reached an agreement with BayWa r.e. AG and various subsidiaries which will satisfy the requirements of a restructuring report drawn up by the Boston Consulting Group. The restructuring report attests that BayWa r.e. is capable of restructuring provided that the measures for transforming the company are systematically implemented by the end of 2027. Thus BayWa r.e. has set up the “r.e.power” transformation programme, which is designed to improve its earnings in the short and long term and to strengthen its competitive position on a sustained basis.

The agreement now entered into by the parties allows the financing solution to be documented in the first quarter of 2025. 

Noerr is regularly involved in highly complex restructuring situations, including in the energy sector, and was able to help the lenders restructure the STEAG Group, for example. It recently also acted for the lenders of Varta AG and the Ziegler Group, for example.

Berater Finanzierer der BayWa r.e.: Noerr

Leitung: Andreas Naujoks (partner, Financing, Frankfurt), Marlies Raschke (partner, Restructuring, Dresden), Dorian Legel (associated partner, Financing, Frankfurt)

Financing: Michael Schuhmacher (partner), Patrick Geist (Associated Partner), Doreen Pape (counsel), Kevin Brühl (senior associate), Selena Nastvogel (associate), Jonas Zinkand (associate, all Frankfurt)

Restructuring: Maik Grunenberg (Associate, Frankfurt), Konrad Fichter (associate, Berlin), 

Corporate/M&A: Susanne Rummel (partner), Sebastian Seier (associated partner, both Munich), Dominique Finke (senior associate, Düsseldorf), Julia Hecht (senior associate), Tobias Thiemann (senior associate), Julian Hoffmann (associate), Ludwig Niller (associate, all Munich), Inken Rüdebusch (associate, Düsseldorf), Vera Vollbrecht (associate, Munich)

Capital Markets: Philip Schmoll (associated partner, Frankfurt)

Energy: Christof Federwisch (partner), Gabriele Haas (partner), Marius Siebecker (associate, all Frankfurt)

Antitrust & Competition: Fabian Badtke (partner, Frankfurt)

Real Estate: Tim Behrens (partner, Frankfurt)