Gleiss Lutz has advised a banking consortium on the conclusion of a syndicated loan agreement for EUR 1.03 billion for the Salzgitter Group.
The transaction was arranged by Bayerische Landesbank, BNP Paribas S.A. Germany Branch, Commerzbank Aktiengesellschaft, Deutsche Bank AG, Norddeutsche Landesbank Girozentrale and UniCredit Bank AG. Commerzbank Aktiengesellschaft also acted as documentation and facilities agent. The syndicated loan agreement provides for the subsequent introduction of an ESG component.
Gleiss Lutz previously advised the banking consortium on a financing project in 2017.
For more than 150 years, the companies of the Salzgitter Group have been synonymous with the innovative and sustainable manufacture of steel and technology products. The Group employs around 25,000 people worldwide, is the fifth largest European manufacturer of flat and sectional steel and is one of the world's leading producers of steel tubes. A worldwide network of more than 150 subsidiaries and affiliated companies ensures the Group's global presence.
The following Gleiss Lutz team advised the lenders on the financing: Dr. Eva Reudelhuber (lead, partner), Pascal Urban, Ardian Gagica and Cora Seelmann (all Banking & Finance, all Munich).