Talanx is acting as lead manager for a double-digit group of institutional investors coordinating €832m of senior bond financing to the Borkrum Riffgrund 2 offshore win farm.
The bond has a term of approximately ten years.
After successfully financing the Gode Wind 1 offshore wind farm in 2015, this is the second successful large-scale transaction under the guidance and leadership of Talanx.
In addition to German insurance companies and asset managers, further institutional partners include banks and European institutional investors, amongst them: DekaBank, Edmond de Rothschild AM’s BRIDGE platform, La Banque Postale Asset Management, NN Investment Partners and Wiener Städtische Versicherung.
“With the financing of Borkum Riffgrund 2, we continue to consistently pursue our strategy of increasing the share of infrastructure investments in our portfolio. In doing so, we aim to counter the decline in yields resulting from the persisting low interest rate environment”, Talanx AG CFO Immo Querner said.
“We expect new investments in infrastructure transactions to amount to €300m in equity and debt in 2018. Overall, we consider €5bn of investments in infrastructure achievable.”