Ashurst advised a consortium of nine banks led by Bayern LB on a
corporate loan of €95m to Bavarian solar company Gehrlicher Solar.
The loan enables Gehrlicher to ensure the planned growth of the
company.
Ashurst advised the banks with a team led by Munich international finance partner
Dr Bernd Egbers. The team
included Munich associate
Simon Stadtmann and Frankfurt senior associate
Sebastian Schoon. Frankfurt partner and head of international finance Germany Dr Stephan Kock also advised. The tax
aspects of the loan were covered by Frankfurt senior tax associate
Dr Malte Strüber.
The banking syndicate includes, in addition to the agent and
coordinating mandated lead arranger Bayern LB, Kreisparkasse
München Starnberg, Sparkasse Coburg-Lichtenfels, WestLB, Zurich
Versicherung AG (Germany), Sparkasse Bamberg, Sparkasse
Ostunterfranken, Bankhaus Lampe KG and Deutsche Postbank
International S.A as lenders.
Gehrlicher Solar AG is a photovoltaic company with its business
seat in Neustadt, near Coburg, and its head office in Dornach, near
Munich. The company currently has 204 employees at two locations in
Germany and has subsidiaries in Italy, Spain and Greece.