Watson, Farley & Williams (WFW) has assisted Capital Stage AG, a German renewable energy company, on a refinancing facility worth up to €23 million from Bayerische Landesbank, a primary German public law credit institution. The refinancing concerns a solar portfolio consisting of seven greenfield photovoltaic parks operating in the Emilia-Romagna, Abruzzo and Marche Regions in Italy, with an overall nominal capacity of approximately 14.1 MW.

Watson, Farley & Williams’ dedicated team included lawyers from the WFW Milan, Rome and Hamburg offices. The team was coordinated by partners Eugenio Tranchino in Milan and Tiziana Manenti in Rome, and composed of partner Thomas Hollenhorst in Hamburg, senior associate Luca Sfrecola in Rome, and associates Emanuele Caretti in Rome, Paul-Vincent Hahn and Marcus Mützelburg in Hamburg and Lorenzo d’Alessandro in Milan. WFW advised Capital Stage AG on the structuring, negotiation and drafting of the refinancing facility agreement and the related security package, including the aspects related to the commercial contracts, with respect to the seven Italian borrowers and the two German sponsors involved

Legance performed the legal due diligence on the solar portfolio which is being refinanced. The team from its Rome office was coordinated by partner Rosella Antonucci, supported by associates Fabio Piazza, Caterina Sitra and Luca Lombardo.

Bayerische Landesbank was advised by Stenger LLP on the German law aspects of the deal, particularly by Dr. Joerg Brackmann and Dr. Carsten Witter. Frank J. Geffers, Kai Uwe Hosse and Francesca Mancinelli of PG Legal advisedBayerische Landesbank on the Italian law aspects of the deal.