Freshfields Advised Siemens Energy On €9 Billion Bank-Backed Guarantee Facility Replacing State Support

Freshfields Advises Siemens Energy on €9 Billion Bank-Backed Guarantee Facility Replacing State Support

Freshfields Bruckhaus Deringer has advised Siemens Energy AG, a global leader in energy technology, on securing a new €9 billion guarantee facility. This facility, provided by a syndicate of 23 international banks, replaces the prior €11 billion state-backed facility and an additional €1 billion facility that were both agreed upon in 2023.

Structured with a five-year term, the facility reflects Siemens Energy’s improved financial performance, including enhanced margins, stronger cash flow, and a more resilient balance sheet. This strategic refinancing enables Siemens Energy to pursue and secure future project contracts independently, without relying on state guarantees.

Freshfields had previously advised Siemens Energy on the original 2023 guarantee package, which involved a counter-guarantee from the Federal Republic of Germany, and on the €4 billion sustainability-linked revolving credit facility closed in 2024.

The Freshfields team advising on this transaction was led by Frank Laudenklos (Partner), with support from Dennis Chinnow and Laura Korndörfer (Principal Associates, Finance – Frankfurt). Additional support was provided by Sebastian Röger (Partner, Tax – Frankfurt) and Christian Schmidt (Principal Associate, Tax – Frankfurt).

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