Frankfurt/Main – A bank consortium led by Commerzbank Aktiengesellschaft and Deutsche Bank AG as coordinators and bookrunners is providing global pharmaceutical company IDT Biologika with credit financing worth EUR 140 million. The syndicated loan consists of a revolving credit line with a final maturity date and is earmarked for general financing of IDT Biologika and for investments. The five-year term with an extension option for up to two further years means that the new syndicated facility provides IDT Biologika with long-term funding certainty. The revolving credit line can also be optionally increased by up to EUR 35 million.
The parties further agreed that sustainability criteria can be defined at a later stage. Meeting the relevant ESG requirements would then lead to a reduction in the interest margin.
Commerzbank Aktiengesellschaft and Deutsche Bank AG are acting as coordinators, bookrunners and mandated lead arrangers. The consortium also includes DZ Bank AG, Helaba and UniCredit Bank AG. Deutsche Bank Luxembourg S.A. acted as management agent, with Deutsche Bank AG acting as sustainability coordinator.
A CMS team headed by Dr Markus M. Pfaff advised the bank consortium on all legal aspects of the financing. Commerzbank Aktiengesellschaft has also previously relied on the expertise of CMS.
CMS Germany
Dr Markus M. Pfaff, Lead Partner, Frankfurt/Main
Felicitas Matthei, Associate, Frankfurt/Main, both Banking & Finance
Press Contact
presse@cms-hs.com
