HKCF advises TEAG exclusively on raising €1.1 billion in long-term debt financing

Nine leading financial institutions support capital raise. Recruitment campaign and investment ramp-up successfully launched.

To support the energy transition in Thuringia, TEAG Thüringer Energie AG (TEAG) launched a comprehensive debt financing initiative in 2024. The company successfully raised approximately €1.1 billion in long-term loan facilities on the German capital market to fund investments planned for the years 2025 to 2027. The average loan maturity exceeds 20 years.
The financing is provided by the European Investment Bank (EIB) alongside eight other prominent commercial lenders: KfW IPEX-Bank, NordLB, LBBW, DekaBank, DZ Bank, Unicredit, DKB, and Sparkasse Mittelthüringen. HKCF acted as exclusive financial advisor to TEAG, supporting the company in structuring and executing the transaction. In 2024, TEAG more than doubled its investments in its seven grid and generation businesses compared to previous years. This acceleration is underpinned by unanimous shareholder resolutions from over 500 municipal stakeholders in 2023, as well as the successful launch of a large-scale recruitment campaign in early 2024.

Source: TEAG (german)