Hengeler Mueller advises HeidelbergCement on refinancing by syndicated loan

25. February 2014

HeidelbergCement, one of the world’s largest manufacturers of building materials, has signed a new EUR3bn syndicated credit facility with a term of five years. Through the new credit facility the existing credit facility which would have expired in December 2015 is refinanced well in advance. The new multicurrency credit facility serves as a liquidity back-up and can be utilized by way of cash loans and letters of credit. HeidelbergCement was able to achieve significantly improved conditions. Unlike the existing credit facility, the new line of credit facility is unsecured.

Bank of America Merrill Lynch, Bayern LB, BNP Paribas, Citigroup, Commerzbank, Danske Bank, Deutsche Bank, Svenska Handelsbanken, Helaba, ING Bank, Intesa Sanpaolo, LBBW, Mediobanca, Morgan Stanley, Nordea, RBI, RBS, SEB and Standard Chartered were mandated as bookrunners and Mandated Lead Arrangers in this transaction. Deutsche Bank is acting as documentation and facility agent.

Hengeler Mueller advised HeidelbergCement on the transaction. The Hengeler Mueller team was led by partner Johannes Tieves (Financing, Frankfurt).