White & Case advises banking syndicate on €210 million financing of bayernets’ Augusta pipeline

Global law firm White & Case LLP has advised Commerzbank, KfW IPEX-Bank and DZ BANK AG Deutsche Zentral-Genossenschaftsbank as mandated lead arrangers, and Commerzbank as agent, on the €210 million financing of bayernets' Augusta gas transmission pipeline.

The project comprises the planned construction and commissioning of the pipeline, which extends 40.5km between the grid nodes Wertingen in the district of Dillingen an der Donau and Kötz in the Bavarian district of Günzburg, and will be connected to bayernets' existing gas transport system. The new pipeline also prepares for future requirements for the transportation of hydrogen.

As a transmission system operator, bayernets is fulfilling its obligation under the current gas network development plans to expand the network in line with demand to cover existing and future energy requirements. The planned gas pipeline is a milestone for greater grid stability and a secure energy supply in southern Germany.

The White & Case team in Hamburg which advised on the transaction was led by partner Florian Degenhardt and included local partner Matthias Grigoleit and associates Dana Masberg and Ioana Marinescu.

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