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Siemens Energy replaces state guarantee with €9bn bank facility

It underscores Siemens Energy’s recovery from the 2023 crisis triggered by losses at its wind division.

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Der Anlagenbauer Siemens Energy hat eine Garanie des Staates zur Absicherung von Großprojekten abgelöst. Das Unternehmen entwickelte sich in den vergangenen Jahren gut, wie Siemens Energy mitteilte.

Overview

  • The new €9 billion credit line is provided by a consortium of 23 international banks and carries a five-year term for project financing.
  • The original €7.5 billion guarantee was part of a broader €15 billion state guarantee line arranged during the 2023 crisis.
  • Improved margins and cash flow over the past two years allowed Siemens Energy to exit government backing without diluting ownership.
  • Under the state guarantee the company paid €100 million annually and was barred from paying dividends or bonuses.
  • The syndicated facility also replaces a separate €1 billion guarantee previously covered by Siemens AG, reducing internal credit support.