A team of Gleiss Lutz lawyers has advised HORNBACH Holding AG & Co. KGaA on a EUR 500 million syndicated loan agreement. The revolving credit facility will be used to refinance an existing bridge loan facility from January 2022 as well as an existing syndicated loan agreement that was originally entered into in 2017.
For the first time, the new syndicated loan financing for the HORNBACH Group contains a rendezvous clause for the subsequent addition of a sustainability component. The intention is for an increase or decrease of the respective applicable margin to be included depending on the achievement of ESG requirements that have yet to be agreed.
With a term of five years and an option to extend for up to two further years, the new syndicated financing facility offers the HORNBACH Group long-term financial security.
The HORNBACH Group is an independent, family-run retail group that is listed on the Frankfurt Stock Exchange and included in the SDAX.
The following team of Gleiss Lutz lawyers advised Hornbach: Dr. Kai Birke (partner, lead), Dr. Jan-Alexander Lange (counsel) and Jana Pinto Escaleira (all Finance, Frankfurt)
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