Hengeler Mueller advises First Solar on extension of credit facility
01. April 2010
The world’s largest manufacturer of solar modules, First Solar, has extended its senior secured revolving credit facility from USD 300 m to USD 600 m. The financing has been lengthened by five years and will mature in 2015.
The facility had initially been agreed upon between First Solar and a syndicate of 13 international financial institutions in September 2009.
Hengeler Mueller advised First Solar on the extension of the credit facility, after having previously advised on the original agreement. The Hengeler Mueller team included partner Ralph Defren as well as counsel Axel Gehringer and associate Gunnar L. Schmüser (all Frankfurt).
Hengeler Mueller worked on this transaction in an Integrated Team together with the New York law firm Cravath Swaine & Moore LLP.