Hengeler Mueller advises KION on additional EUR 1bn credit line under KfW participation
26. May 2020
To maintain its financial strength during the coronavirus crisis, KION Group ("KION") has reached an agreement on the provision of an additional EUR 1bn liquidity line with its core group of banks and Kreditanstalt für Wiederaufbau (KfW) in a leading role. EUR 800m is being put up by KfW and EUR 200m by KION's core banks. The Company has also reached an agreement with the banks providing its funding that the covenant in respect of its current credit and the additional facility is temporarily suspended.
Hengeler Mueller advised KION on the transaction. The team included partner Johannes Tieves and Counsel Peter Dampf (both Financing, Frankfurt).