Linklaters Advised TenneT Germany on the Establishment of a EUR 35 Billion Debt Issuance Programme
Linklaters Advised TenneT Germany on the Establishment of a EUR 35 Billion Debt Issuance Programme
Linklaters has advised TenneT Germany on the successful establishment of a EUR 35 billion debt issuance programme. The programme enables the public offering of notes with different denominations, currencies and maturities and provides, in addition to fixed and floating rate notes, for the possibility of issuing subordinated notes. Notes issued under the programme may also be admitted to trading on the Luxembourg Stock Exchange.
The proceeds from notes issued under the debt issuance programme may be used for general corporate and financing purposes as well as to finance eligible sustainable projects. The programme in particular provides for the issuance of ICMA green bonds under TenneT Germany’s recently published Green Finance Framework, as well as for the issuance of “European Green Bonds” (EuGBs) under the EU Green Bond Regulation.
TenneT Germany is the largest transmission system operator in Germany. With around 5,000 employees, the company builds, operates and maintains Germany’s largest transmission grid, which extends over more than 14,000 km and connects over one third of the European Union’s total offshore wind capacity. TenneT Germany is among the largest investors in onshore and offshore power grids in Germany.
The Linklaters team was led by Alexander Schlee (Partner) and Wolfgang Ettengruber (Counsel, Capital Markets).
Other team members included Martin Rojahn (Counsel, Capital Markets), Ulrich Johann (Counsel, Tax, Frankfurt), Rowina Ullner (Managing Associate, Capital Markets), Catrin Retzmann (Associate, Capital Markets), Tabea Meißner (Associate, Capital Markets) and Marlen Klepsch (Senior Transaction Lawyer, Capital Markets, all Frankfurt).
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