Hamburg – DLA Piper has advised Bayerische Hypo- und Vereinsbank AG (H…

Hamburg – DLA Piper has advised Bayerische Hypo- und Vereinsbank AG (HVB), a member of UniCredit Group, on the purchase of 45 wind farms in Germany and France through Breeze Three Energy GmbH & Co. KG and the bond financing of such acquisitions through Breeze Finance SA.. The Breeze Three portfolio is made up of 206 wind turbines with a total capacity of approximately 350 megawatts.
The € 455 million bonds, comprised of three tranches, have been placed with institutional investors and are listed on the Luxembourg Stock Exchange. A new feature in comparison to the Breeze Two transaction is that the Class A bonds have been guaranteed by a monoliner – an insurance company specialising in the acquisition of financial risks.
Breeze Three is already the third placement of such renewable energy related bond issue in the capital markets. The Breeze series of bond issues is so far the only program in the European capital markets to provide institutional investors with the opportunity to access renewable energy related investments. In the future it is anticipated that the Breeze series, in addition to wind energy, will also provide access to investments in other forms of renewable energy such as solar and geothermal power and by sourcing funds from institutional investors will substantially contribute to climate protection.
Last year the renewable energy team around Dr Ulf Liebelt-Westphal joined DLA Piper from Luther Rechtsanwaltsgesellschaft where it has already advised the purchase of the Breeze Two and the NUON portfolios, two of the largest wind energy transactions in 2006.
The team at DLA Piper consisted of partners Dr. Ulf Liebelt-Westphal (Corporate, Hamburg, lead management) and Antje Günther (Finance & Projects, Cologne) and senior associates Jens Suhrbier (Corporate, Hamburg), Dr Corrado Wohlwend (Corporate), Alexander Zerbe (Corporate, both Frankfurt), Gabriela von Wietersheim (Finance & Projects, Cologne), Dr Flemming Moos (Technology, Media & Commercial, Hamburg), Dr Fabian Hinrichs (Real Estate, Cologne), Sascha Wilnat (Restructuring, Frankfurt) and Dr. Katharina Kraus (Corporate, Hamburg).
In regards to this transaction the German team was also supported by colleagues from our offices in London and Paris.
For further information:
Christina Krings, Business Development Manager, DLA Piper, Tel: +49 (0)221 277 277 – 0 or email: [email protected]

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