Siemens Energy Takes On €4 Billion Credit Line After Gamesa Loss
- New €4 billion facility replaces both firms’ existing debt
- A total of 26 banks committed to five-year revolving loan
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Siemens Energy AG has obtained a €4 billion ($4.3 billion) credit line that replaces an existing facility of its own as well as for its loss-making Gamesa wind-turbine unit.
The new five-year revolving facility refinances an existing €3 billion credit line for Siemens Energy and a €2 billion one for Siemens Gamesa Renewable Energy SA, a company spokesperson told Bloomberg. A consortium of 26 international banks committed to the new debt, he said.