Munich, 21 March 2017. - The Transmission System Operator bayernets GmbH strengthens its financial position to realise investment projects in the coming years with corporate financing of approx. €347 million.

“With its investments in the natural gas infrastructure bayernets is making a significant contribution to a network development consistent with market demand, thereby ensuring the security of supply“, explain Rainer Dumke, Technical Managing Director for bayernets GmbH, and Dr. Matthias Jenn, Commercial Managing Director of the company.

The foreign capital based funding comprises a volume of just under €208 million. Part of the funding amounting to €30 million will be provided by the European Investment Bank. The predominant funding volume of approx. €178 million will come from a bank consortium made up of the Bayerischer Landesbank, Commerzbank AG, Landesbank Baden-Württemberg and the SEB AG.

Furthermore, bayernets GmbH will increase its existing equity. Capital resources amounting to approx. €139 million will be paid to the company. Alongside its majority shareholder Bayerngas GmbH, hitherto the only shareholder, holding 59.1 % of the shares, 32.4 % of the shares will be held by Stadtwerke München GmbH and 8.5 % of the shares by Stadtwerke Augsburg Holding GmbH.