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Siemens Gamesa extends maturity of €2.5B syndicated financing facility

Siemens Gamesa Renewable Energy SA extended the maturity of a €2.5 billion syndicated financing facility, which consists of a €500 million loan maturing in 2022 and a €2 billion multi-currency revolving credit facility maturing in 2024.

The first "green" financing for Siemens Gamesa secured commitments from 22 banks and was 50% oversubscribed, according to a company news release. The secured funds will be used to finance recurring activity for the next five years.

The company said it secured more flexible conditions thanks to its investment-grade credit rating.