Mayer Brown has advised global industrial company, the Klesch Group, on the €450m refinancing of the Heide Refinery in Germany by Barclays, using an innovative structured finance arrangement. This follows the Klesch Group's acquisition of the refinery from Shell in 2010, on which Mayer Brown also advised.
The 136-hectare site has a capacity to process nearly 4.5million tonnes of crude oil per year, supplying road fuels, aviation fuel, heating oil and chemicals, for the manufacturing of plastics, to Northern Germany.

Edmund Parker, Global co-head of Derivatives & Structured Products at Mayer Brown, commented: "The refinancing of the Heide Refinery will allow the Klesch Group to continue investing in the site and building its capabilities. This is an exciting time for our client so we're delighted to have advised them on this innovative structured finance arrangement.”

The London and Frankfurt Mayer Brown team included Global co-head of Derivatives & Structured Products Edmund Parker, Banking & Finance partners Rachel Speight and Dr Ralf Hesdahl, Corporate & Securities partner Mark Walker and Counsel Prof Dr Christoph Broich and Banking & Finance associates Matthias Gippert and Doye Balogun.