Matthias Grigoleit
Biography
Overview
The main areas of practice of Matthias are energy, infrastructure, project and asset finance. He advises banks, creditors and sponsors in national and cross-border finance transactions including structured finance, export finance and asset finance, most commonly relating to aircraft and rolling stock financings.
Matthias has extensive experience in complex international project financings, in particular in the area of energy, including renewable energy (wind /solar), infrastructure (such as motorways, datacentres, battery storage and grids), public private partnerships (PPPS), involving various debt instruments (such as project bonds and institutional debt) and bankability of project agreements. Here, he benefits from his in-house experience at a major German bank.
Matthias has particular industry insight in the transportation sector, including aviation and rail, a well proven track-record over the last years comprising a vast number of complex domestic and international aircraft and rail finance transactions (including (finance) leases and other forms of leases, such as JOLCO leases of aircrafts) and is very well connected with the relevant German and European supervising authorities.
He moreover advised in various financings, incorporating guarantees, promotional funds financings and re-financings from ECAs, development finance institutions (DFIs), especially KfW, EIB and export credit agencies (such as Euler Hermes, EKF (EIFO), EKN and SACE backed financings).
Experience
Selected experience
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.
Advising EIB and consortium of banks including KfW IPEX on the financing of EUR 1 billion for 2.6 GW of renewable energy projects (up to 45 projects) in Spain and Portugal from the German sponsor Aquila Clean Energy for the expansion of renewable energy 2024-2026. The tailor-made construction phase financing consists of a EUR 400 million loan from the EIB and a EUR 600 million loan from the consortium of commercial banks involved. The remaining amount of more than EUR 1 billion for the total project volume of over EUR 2 billion comes from funds managed by Aquila Capital and Aquila's own capital. The financing was awarded "Renewable Energy Deal of the Year 2022 (Solar)" at the IJGlobal Europe Awards 2022.
Advising consortium of banks including KfW IPEX Bank, BNP, BBVA German Branch, Credit Agricole, DekaBank, MUFG German Branch, Natixis, Santander Bank German Branch and UniCredit Bank as MLAs and UniCredit Bank as agent and collateral agent as well as various institutional lenders on various equity bridge, Holdco and senior financings for borrowers DFMG HOLDING GmbH and parent GD TOWERS HOLDING GmbH and their sponsors US infrastructure investor DigitalBridge and Canadian investment company Brookfield Asset Management of a total financing volume of over EUR 7.5 billion for their successful EUR 17,5 billion offer for 51% of the shares in Deutsche Telekom's German and Austrian mobile tower business with a portfolio of over 40.000 mobile communications sites. This is the largest digital infrastructure financing in the European market in recent years and was awarded as "Europe Digital Deal of the Year 2023" by PFI Awards 2023.
Advised international consortium of financiers including German banks such as KfW IPEX, Deutsche Bank, Commerzbank, Siemens Bank and export credit insurers (Euler Hermes, EKF and Atradius) on the EUR 2.7 billion financing for the construction of the 640 MW offshore wind farm Yunlin developed by the German sponsor wpd in Taiwan and further construction stage disbursements incl. construction delays due to the COVID pandemic, changes to the financing (including waivers) and restructuring of the facilities agreement together with KfW guarantees and additional financing of a further EUR 1.5 billion (equity and debt) which is currently being implemented as part of a first-time scheme of arrangement for Euler Hermes and ECA-covered financing of an offshore wind farm. Awarded as "Asian Offshore deal of the Year" by IJ Global 2020 and "Renewables Deal of the Year" by Project Finance International 2020. The financing also received the "Overall ECA-backed Deal of the Year Award" by TXF Awards 2020.
Advised UniCredit Bank and junior lenders on the financing of the construction and operation of the Belgrade waste to energy project located in Vinča in the vicinity of Belgrade in Serbia under Public- Private Partnership (PPP) scheme and further amendments. Awarded as both the "European Waste Deal of the Year" (IJ Global Awards 2020) and the "European Deal of the Year for Project Finance" (IFLR Europe Awards 2020).
Advising NordLB on the financing of the wind farm Pajuperänkangas in the northern Ostrobothnia province in Finland incl. KfW loans. With an installed capacity of 86.8 megawatts, it is the largest project to date in which ABO Wind covers the complete value-added chain of planning and turnkey construction. Our advice covers all legal DD matters and sale of the project to an UK infa fund.
Advised Kommunalkredit and institutional lenders on the secured €175 million refinancing of the 300 MW solar project Talasol located in the South-West of Spain operated on the basis of a long-term PPA. The Talasol solar park was at that time the third largest PV installation in Spain. Our advice covered the structuring of the refinancing in accordance with German investment regulations (Anlageverordnung) for German pension funds (Versorgungswerke) and insurance companies as well as DD matters in relation to permits, energy law, land rights and project agreements.
Advised Borusan EnBW Enerji Yatirimlari ve Üretim A.Ş.on the USD$ 64,550 million Euler Hermes (ECA) backed financing provided by DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main in relation to Saros wind energy power plant in Turkey and related amendments.
Advised lenders on the EUR 1,7 billion refinancing of the Thameslink Rolling Stock project in the UK via senior bank loans and project bonds, and the associated project agreements, such as supply contracts and leases for a fleet of 115 Siemens rail vehicles as well as concession and service agreements. Thameslink rolling stock project was awarded as "Europe Refinancing Transport Deal of the Year" (IJ Global Awards 2021).
Advising CargoBeamer as seller and lessee on secured (re)financings of rail vehicles via a sale & leaseback structure with institutional lenders. Our advice includes regulatory, purchase, lease, maintenance, and service contracts with third parties as well as corporate matters and group-internal contracts.
Advising Carlyle Aviation Partners on the financing, leasing purchase and leasing of an aircraft Airbus A319-100 (MSN 1625, registration number D-ASPB) as well as on all regulatory issues, declarations, and applications for the re-registration of the aircraft in Germany at the Federal Aviation Authority (Luftfahrt Bundesamt).
Advising major international airline Thomas Cook Group in connection with the financing and/or leasing of various airplanes and advising on all regulatory issues, declarations, and applications for new or re- registration of aircraft in Germany with the Federal Aviation Authority.
Legal Developments in the Third Sector, Non Profit Law Yearbook 2007, Cologne/Munich, pp. 311 – 344, Eds. Rainer Hüttemann, Peter Rawert, Karsten Schmidt and Birgit Weitemeyer, 2008, (Aus Gesetzgebung, Rechtsprechung und Verwaltungsanweisungen zum Dritten Sektor im Jahr 2006/2007) (co-author with Nils Krause)
