Dürr AG’s EUR 750 Million Syndicated Credit Facility

Hengeler Mueller advised a syndicate of 13 banks from Europe, Asia and the US on the sustainability-oriented refinancing of Dürr AG.

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.

Dürr AG is a global mechanical and plant engineering firm. The customers of Dürr AG include almost all familiar automobile manufacturers and their suppliers. Other market segments include, for example, the mechanical engineering, chemical and pharmaceutical industries and the woodworking industry.

Responsible for the syndicate’s coordination are BNP Paribas, Commerzbank, Deutsche Bank and UniCredit. Also involved are the Bank of China, DZ Bank, HSBC, ING, JPMorgan, KfW/IPEX, LBBW, Mizuho and Santander.

Dürr AG received legal support from the Freshfields Bruckhaus Deringer law firm. The syndicate of banks was advised by the Hengeler Mueller law firm.

The Hengeler Mueller team included partner Johannes Tieves (Picture) as well as associates Henning Hilke and Rudolf Mehl (all Financing, Frankfurt).

Involved fees earner: Henning Hilke – Hengeler Mueller; Rudolf Mehl – Hengeler Mueller; Johannes Tieves – Hengeler Mueller;

Law Firms: Hengeler Mueller;

Clients: Bank of China; BNP Paribas; Commerzbank AG; Deutsche Bank AG; Dz Bank; HSBC; ING Bank; JPMorgan Chase & Co.; KfW IPEX-Bank GmbH; LBBW Immobilien Management GmbH; Mizuho; Santander; UniCredit Bank AG;