Senvion Completes Successful Refinancing and Extension of its Debt Facilities

Senvion Holding GmbH, a limited liability company incorporated under the laws of the Federal Republic of Germany (the “Issuer”), announced today that it has priced €400.0 million in aggregate principal amount of senior secured fixed rate notes due 2022 (the “Senior Secured Notes”) at 3.875%, a reduction of 2.75% compared to the Issuer’s Existing Notes (as defined below). The Issuer expects that the Senior Secured Notes will be issued on May 5, 2017.

The proceeds of the Senior Secured Notes will be used, together with cash on hand, to fund the redemption of all of the €400.0 million in aggregate principal amount of the Issuer’s 6.625% Senior Secured Notes due 2020 (the “Existing Notes”) and pay certain fees and expenses in connection with the foregoing.

On May 5, 2017, the Issuer and its affiliates (the “Senvion Group”) will also amend and restate its €950,000,000 revolving credit and guarantee facilities agreement (the “Revolving Credit and L/G Facilities Agreement”). Following this amendment and restatement, the margin on the guarantee facility made available under the Revolving Credit and L/G Facilities Agreement will decrease by 50 bps and the margin on the revolving credit facility made available under the Revolving Credit and L/G Facilities Agreement will decrease by 50 bps.

The Issuer estimates that the annualized interest cost savings, following the issuance of the Senior Secured Notes, the amendment and restatement of the Revolving Credit and L/G Facilities Agreement and the redemption in full of the Existing Notes on May 5, 2017, will amount to more than €14 million.

Jürgen Geissinger, CEO of Senvion said: “The successful completion of these transactions highlights the acceptance by the markets of our strong commitment to our markets strategy, as well as in product development, innovation and investment, and improved processes, while reducing costs, to deliver further success and ensure long term competitiveness. Combined with our Move Forward efficiency program, the announced refinancing of the notes and the amendment and extension of the RCF provides a solid foundation for our continued global growth strategy.”

Manav Sharma, Senvion CFO, added: “We are pleased with the successful completion of these transactions and for the continuing trust of our banking partners and bond investors in the Senvion Group and in the work we are doing which helped to deliver an interest cost reduction in excess of 35%. The interest rate improvements are expected to positively affect our margins and are expected to significantly add to the bottom line and further increase the competitiveness of the Senvion Group.”

The Senior Secured Notes are being offered only to qualified institutional buyers in accordance with Rule 144A under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in accordance with Regulation S under the Securities Act and, if an investor is a resident of a member state of the European Economic Area (the “EEA”), only to an investor that is a qualified investor (within the meaning of Article 2(1)(e) of Directive 2003/71/EC, together with any amendments thereto, including Directive 2010/73/EU, to the extent implemented in the relevant member state (the “Prospectus Directive”)).