CMS advises ElringKlinger on EUR 450 million syndicated loan

Stuttgart – ElringKlinger AG, a listed, internationally operating automotive supplier, has concluded a syndicated financing agreement totalling EUR 450 million. The financing was provided by seven German and international banks and was arranged by Commerzbank, DZ BANK and Landesbank Baden-Württemberg. Other participating banks are Deutsche Bank, HSBC, ING Bank and Targobank. The agreement provides ElringKlinger with long-term financial security and the necessary flexibility to continue to implement the SHAPE30 corporate strategy.

CMS advised ElringKlinger comprehensively on this transaction. A CMS team led by Dr Marc Seibold, specialist for syndicated financing in the Banking & Finance practice area, supported the automotive supplier in all financing law issues. CMS has been advising ElringKlinger on various financing projects for a number of years.

The syndicated loan has a term of five years and was concluded at standard market conditions. It also includes an option to increase it by a further EUR 100 million. The funds will be used for general corporate financing and to refinance the original syndicated loan and existing bilateral lines of credit.

ElringKlinger has been active in the field of alternative drive technologies for more than two decades and, with its SHAPE30 corporate strategy, is pursuing the goal of generating more than 50% of its sales outside of the traditional combustion engine by 2030. To achieve this, the company is focusing on innovative solutions in the areas of emobility, battery and fuel cell technology.

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