Noerr has advised the European Investment Bank (EIB) on the EUR100 million financing of VIVAWEST, a housing association serving the North Rhine-Westphalia region.
The funds are secured via the European Fund for Strategic Investments (EFSI).
VIVAWEST will use the credit line to build around 900 homes in various cities and municipalities in North Rhine-Westphalia, constructing low-energy homes that meet the KfW 55 standard. The credit line can be drawn down in several tranches and has a maximum term of 13 years.
Tom Beckerhoff and Michael Schumacher advised the EIB on the financing transaction. These two finance partners regularly advise the EIB on corporate and project financing. Clients advised by Noerr’s finance practice group, which has around 25 advisors, include numerous banks, insurance companies, pension funds, financial services providers and other companies.
