DLA Piper has advised German Georgsmarienhütte Group on the refinancing of its existing EUR 400 million syndicated loan agreement. The loan agreement comprises a term loan and a revolving credit facility and was arranged by COMMERZBANK Aktiengesellschaft, Deutsche Bank AG and Landesbank Baden-Württemberg, which also act as lenders along with other German banks. The financing includes, among other things, forward-looking ESG provisions.The proceedings from the financing will be used for the repayment of the existing loan agreement and can also be used for general corporate financing as well as for the redemption of promotional loans granted in the context of the Corona Pandemic. GMH Group is a German steel producer with around 6,000 employees and more than 20 companies worldwide.The GMH Group is one of the market leaders in stainless steel, as a manufacturer of variable geared steering technology and cap rings for the turbine industry.The DLA Piper team was led by partner Dr Wolfram Distler (Finance, Frankfurt) and included counsel Mirjam Rüve (Corporate, Hamburg), senior associate Patrick Reuter and associate Ilgin Ayhan (Finance, both Frankfurt).
DLA Piper has advised German Georgsmarienhütte Group on the refinancing of its existing EUR 400 million syndicated loan agreement. The loan agreement comprises a term loan and a revolving credit facility and was arranged by COMMERZBANK Aktiengesellschaft, Deutsche Bank AG and Landesbank Baden-Württemberg, which also act as lenders along with other German banks. The financing includes, among other things, forward-looking ESG provisions.The proceedings from the financing will be used for the repayment of the existing loan agreement and can also be used for general corporate financing as well as for the redemption of promotional loans granted in the context of the Corona Pandemic. GMH Group is a German steel producer with around 6,000 employees and more than 20 companies worldwide.The GMH Group is one of the market leaders in stainless steel, as a manufacturer of variable geared steering technology and cap rings for the turbine industry.The DLA Piper team was led by partner Dr Wolfram Distler (Finance, Frankfurt) and included counsel Mirjam Rüve (Corporate, Hamburg), senior associate Patrick Reuter and associate Ilgin Ayhan (Finance, both Frankfurt).
