Enpal GmbH – German Residential Solar & Battery Portfolio
€345,000,000 / €275,000,000 senior secured loan & €70,000,000 mezzanine notes

IDCM was mandated by Enpal, the largest provider of solar and battery solutions for homeowners in Germany, as joint financial adviser to structure and arrange a financing to refinance the installation of more than 15,000 solar rooftop and battery systems in Germany.  This transaction was a follow-up mandate to deal which IDCM arranged for Enpal two years ago.

IDCM was responsible for building the complex financial models for both the senior and mezzanine debt facilities and let the audit process. We also worked with our co-adviser which was a European bank putting together the IM that was used to approach potential Lenders.

The joint advisers approached a select list of banks and institutional investors to ascertain appetite for the financing. Having received initial high level terms from a number of potential lenders a selected a group of preferred lenders (combination of banks and institutional investors) was chosen. IDCM undertook detailed term sheet negotiations regarding all commercial terms and provided assistance with the negotiation of the finance documents.

"IDCM again proved to be a valuable partner and enabled us to run the transaction efficiently and successfully from deal marketing to signing"
Viktor Wingert, Co-Founder of Enpal

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