The company is strengthening its successful partnership with Deutsche Kreditbank AG, Berlin. Benefiting from the current low interest rates, Capital Stage has now managed to negotiate very favourable interest rates on the loans.
The six german parks had been connected to the grid between 2008 and 2011. The credit agreements of these parks have now been succesfully refinanced. The renegotiated interest rates are well below the previous for the solar and wind parks concerned. The new interest rates apply from 2018 until the loans have been fully repaid. These refinancing arrangements underscore the strength of the long-standing partnership with Deutsche Kreditbank, which finances 16 Capital Stage solar parks and three Capital Stage wind parks in Germany.
Just last year, Capital Stage managed to seal a refinancing agreement with Deutsche Kreditbank that enables it to enjoy more favourable terms on a solar park that had previously been financed by another bank. At the start of 2015, a refinancing agreement was concluded on four solar park loans that enables Capital Stage to benefit from the current low interest rates over a long period. In total, Capital Stage and Deutsche Kreditbank have refinanced loans worth €76 million connected with their partnership.
Capital Stage CFO Dr Christoph Husmann stated:
‘We are delighted that we have been able to set these future interest rates with our partner Deutsche Kreditbank, thus enabling us to benefit from the current favourable interest rate climate for a long time to come. The professional approach and high degree of flexibility shown by Deutsche Kreditbank mean a lot to us and give us additional financial manoeuvrability in this dynamic market.’