Noerr advises lenders on successful completion of restructuring financing for BayWa r.e. AG

A Noerr team headed by Andreas Naujoks, Marlies Raschke and Dorian Legel has advised the lenders of BayWa r.e. AG (“BayWa r.e.”) on reaching an agreement on long-term funding for restructuring BayWa r.e.

BayWa r.e. is a subsidiary of BayWa AG (51%) and the Swiss PE investor Energy Infra-structure Partners (EIP, 49%).

In recent years, BayWa r.e. has increasingly invested in the renewable energies sector, primarily in wind and solar farms, but also in solar modules, resulting in a high level of debt. As a world leading developer, service supplier, solar equipment wholesaler and provider of energy solutions in renewables, BayWa r.e., with around 5,400 employees, recently generated revenues of just under €5.8 billion. Since mid-2024, BayWa r.e. has been undergoing a comprehensive restructuring.

BayWa r.e. has agreed a comprehensive refinancing package with its shareholders and financing partners, extending through to mid-2029. The agreement totalling around €3 billion includes bank financing, shareholder loans and guarantees for the operating business. It also includes an additional €435 million funding announced in March. This forms a solid financial foundation for a successful transformation in the coming years.

Noerr is regularly involved in highly complex restructuring situations, including in the energy sector, and has, for example, assisted the lenders in the restructuring of the STEAG Group. Most recently, Noerr also acted on behalf of the lenders of Varta AG and the Ziegler Group.

Advisors to BayWa r.e.’s financiers: Noerr

Joint lead: Andreas Naujoks (partner, Frankfurt am Main), Marlies Raschke (partner, Dresden), Dorian Legel (associated partner, Frankfurt am Main),

Banking & Finance: Andreas Naujoks (partner), Dorian Legel (associated partner), Michael Schuhmacher (partner), Alexander Schilling (partner), Patrick Geist (associated partner); Selena Nastvogel (associate), Jonas Zinkand (associate), Doreen Pape (counsel), Ana-Maria Mirceta (senior associate), Linh Hoang (senior associate, all Frankfurt am Main),

Restructuring & Insolvency: Marlies Raschke (partner, Dresden), Simone Schönen (partner, Hamburg), Nicholas R. Palenker (senior associate, Berlin), Konrad Fichter (senior associate, Berlin), Patrick Ernst (senior associate, Munich), Maik Grunenberg (associate, Frankfurt am Main), Jacob Czada (associate, Berlin)

Tax & Private Clients: Andre Happel (partner, Frankfurt am Main), Benedikt Rippert (senior associate), Antonia Bach (associate, all Frankfurt am Main)

Energy & Infrastructure: Christof Federwisch (partner), Gabriele Haas (partner), Marius Siebecker (senior associate, all Frankfurt am Main)

Mergers & Acquisitions: Christian C.-W. Pleister (partner, Berlin), Susanne Rummel (partner, Munich), Tobias Thiemann (senior associate, Munich), Dominique Janine Finke (senior associate, Dusseldorf), Julian Hoffmann (associate, Munich), Vera Vollbrecht (associate, Munich), Johannes Selle (associate, London)

Real Estate Investment: Tim Behrens (partner, Frankfurt am Main)

Antitrust & Competition: Fabian Badtke (partner, Frankfurt am Main), Robert Pahlen (counsel, Berlin)

Private Equity: Inken Rüdebusch (senior associate, New York), Julia Hecht (senior associate, Munich), Ludwig Niller (associate, Munich), Anita Schiele (associate, Berlin)

Capital Markets: Dominik Kloka (partner), Philip Schmoll (associated partner), Dominique Wunderlich (associated partner, all Frankfurt am Main)

Corporate: Sebastian Seier (associated partner, Munich)

Financial Services Regulation: Karl-Alexander Neumann (partner, Hamburg)