Hengeler Mueller | View firm profile
As part of its sustainability-oriented refinancing Dürr
AG has signed a EUR 750 m syndicated credit facility. The syndicated loan
consists of a cash facility of EUR 500 m and a letters of credit facility of
EUR 250 m. The interest rate is inter alia adjusted subject to a sustainability
rating provided by the agency Ecovadis. Considered factors include, among
others, CO2 emissions and water consumption as well as fair working conditions
at suppliers. The signing of the loan agreement served as a pilot project for
the digitalisation of syndication processes, using a Dürr-hosted Blockchain and
digital security technology.
The bank syndicate comprises 13 banks form Europe, Asia
and the US which reflects the international character of Dürr's business.
Hengeler Mueller advised the bank syndicate on the
transaction. The team included partner Johannes Tieves as well as associates
Henning Hilke and Rudolf Mehl (all Financing, Frankfurt).