2016

Carsted Rosenberg Advokatfirma Advises on EUR 100 Million Funding of  R&D Activities of Heidelberger Druckmaschinen AG by the European Investment Bank

A EUR 100 million loan from the European Investment Bank (EIB) is to support the research and development (R&D) activities of Heidelberger Druckmaschinen AG (Heidelberg), focusing on digitisation, software integration and expansion of the digital printing portfolio. To help finance the R&D program, which will span several years, the EIB is providing the company with a development loan that can be drawn down in tranches, each with a seven-year term. This is the first time a large German company has benefited from the European Fund for Strategic Investments (EFSI) – the centrepiece of the Investment Plan for Europe. Following on from last year’s comprehensive refinancing activities, the EIB loan, which has a long-term focus stretching to 2024, rounds off the company’s financing mix, helping it to continue pursuing its strategy of innovation in the field of digitisation. “Over the next seven years, the EIB development loan will help us finance our research and development projects for digitisation on attractive terms. The financing framework is the basis for implementing the innovation strategy at Heidelberg and thus achieving the sustained profitable growth we are aiming for,” says Heidelberg CFO Dirk Kaliebe. The European Investment Bank is the European Union’s bank. Its shareholders are the EU Member States. The EIB makes long-term finance available for sound investment projects that tie in with EU policy goals, such as making European countries more competitive and supporting sustainable growth. EFSI is an initiative launched jointly by the EIB Group and the European Commission to help overcome the current investment gap in the EU. By mobilising private finance, it aims to make Europe more competitive and create high-quality jobs. A EUR 21 billion EU/EIB guarantee is expected to unlock EUR 315 billion of additional investment in the real economy by mid-2108.

Lead by global law firm Clifford Chance, Frankfurt, as global lead counsel, Clifford Chance, New York, Clifford Chance, London, Clifford Chance, Amsterdam, Clifford Chance, Paris, Clifford Chance, Singapore, Clifford Chance, Tokyo, Clifford Chance, Hong Kong, Clifford Chance, Brussels, Clifford Chance, Milan, Fasken Martineau DuMoulin, Toronto, King & Wood Mallesons, Sydney, Pestalozzi, Zürich, Wolf Theiss and Carsted Rosenberg all acted as local counsels to Heidelberger Druckmaschienen AG on the investment. Allen & Overy advised the EIB as lender’s global lead counsel.

Re-Match A/S Opens First Production Plant in Denmark following DKK 32 Million Funding

Re-Match Turf Recycling inagurated the first recycling plant in Herning, Denmark on 21 June 2016. Attended by more than 300 guests, including the Danish Minister for the Environment and Climate, the Mayor of Herning and representatives from the Danish Football Association and FIFA, Re-Match successfully opened its 8,000 m2 production plant. Financed by private and public investors, including the Danish Government Green Business Development Fund and the Danish Growth Fund, Re-Match A/S has developed a patented mechanical separation process that makes it possible to clean and recycle 99 percent of artificial turf used in football fields. The components are ready to be re-used in the production and installation of new artificial turf thereby completing the life-cycle of artificial turf to ensure a sustainable use of resources. Following the successful opening of the first plant in Denmark, Re-Match is planning to open further plants in Germany, the United Kingdom and the United States.

Carsted Rosenberg Advokatfirma Advises UniCredit Bank on Danish-Romanian Senior Credit Facility

Together with RTPR Allen & Overy, Carsted Rosenberg Advokatfirma advised UniCredit Bank as senior lender on a German-law governed cross-border senior credit facility provided to the Romanian subsidiary of a Danish investment group for the acquisition of farmland in Romania. While farmland prices in Romania have experienced a rapid growth in recent years, they are projected to continue to rise in 2016 after a growth of approximately 10 percent last year. Given that prices are still competitively below the average prices in Western Europe, the acquisition of farmland in Romania remains an attractive investment opportunity for Danish financial institutions and companies active in the farming and food industries, due to the higher yields foreign investors achieve in the region compared to other European countries. With UniCredit Bank’s in-house legal department leading the transaction, Carsted Rosenberg advised on the Danish aspects, while Allen & Overy advised on the Romanian aspects of the cross-border arrangements.

Carsted Rosenberg Advokatfirma Advises HYPO NOE on German-Danish Real Estate Senior Credit Facility

Together with lead counsel Simmons & Simmons, Frankfurt, Carsted Rosenberg Advokatfirma advised HYPO NOE Bank as senior lender on a German-law governed senior credit facility provided to the Danish subsidiaries of a Luxembourg real estate fund for the refinancing of the acquisition of an existing commercial real estate portfolio in Germany. The lender was advised by Simmons & Simmons, Frankfurt, Simmons & Simmons, Luxembourg, Simmons & Simmons, London and Carsted Rosenberg Advokatfirma, as Danish counsel. The borrowers were advised by lead counsel Beiten Burkhardt, Munich, Nauta Dutilh, Luxembourg and Accura Advokatfirma, as Danish counsel.