Deutsche Bank supports innovative offshore wind bond

wind farmDeutsche Bank is acting to support and manage a bond that is based on a 50% stake in an offshore wind farm.

The bank’s global transactional division has been mandated as project agent, security trustee, paying agent, account bank and registrar for the acquisition financing of the Gode Wind 1 offshore wind farm in Germany.

A 50% stake was sold to Global Infrastructure Partners, an independent infrastructure fund manager and Deutsche will act in various capacities to manage the fixed rate deferred drawdown bonds issued privately through an investment vehicle.

“The innovative structuring of the finance parties and continued appetite from non-traditional lenders for this asset class could open doors to similar opportunities for our transaction bank to work closely and more widely with sponsors and institutional investors going forwards,” says Rafe Morton, Europe, Middle East and Africa head of corporate trust, global transaction banking at Deutsche Bank.

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