Dentons has advised Raiffeisen Bank on a USD 200 million five-year syndicated green loan facility for Volta Energy Solutions Hungary. Kinstellar advised the borrower.
"As a result of the transaction, Volta, a subsidiary of Solus Advanced Materials in South Korea, which is one of the global leading producers of battery copper foil, will be able to complete its USD 310 million second investment phase in Kornye, in northwestern Hungary, and to increase its battery copper foil capacity from 15,000 tons per year to 38,000 tons per year," Dentons announced.
Solus Advanced Materials subsidiary Volta is an ultra-thin battery copper foil manufacturer for electric vehicle batteries.
"We are delighted with our cooperation with valued syndication lenders, which marks another step forward in greening the economy and advancing e-mobility," Solus Advanced Materials CFO Keun Man Kwak commented. "We strongly believe this syndication will strengthen our growth strategy and contribute to accelerating the shift to electric vehicles and a cleaner world for us all. We look forward to continued cooperation with local financial institutions as a committed long-term partner."
The Dentons team was led by Partner Gergely Horvath and included Hungary Managing Officer Gabor Kiraly, Senior Associate Gabriella Pataki, and Junior Associates Kinga Kovacs and Nora Nagy.
The Kinstellar team included Budapest-based Partner Csilla Andreko, Of Counsel Dalma Ordogh, Counsel Levente Hegedus, and Junior Associate Zoltan Zagyva, as well as Prague-based Partner Kvetoslav Krejci.