Hengeler Mueller advises Covestro on new EUR 2.5bn credit line
25. March 2020
Covestro has successfully signed a new EUR 2.5bn syndicated revolving credit facility with its core banks. The facility has a term of five years including two one-year extension options and can be drawn in different currencies.
The new facility is linked with Covestro's environmental, social and governance (ESG) rating: the better the company's ESG performance is, the lower the interest component of the credit line will be.
Hengeler Mueller advised Covestro on the transaction. The team included partner Johannes Tieves and associate Rudolf Mehl (both Financing, Frankfurt).