Carsted Rosenberg Advises on Heidelberger Druckmaschinen AG EUR 390,000,000 Refinancing

Heidelberger Druckmaschinen AG has further optimised its financing structure by extending its existing syndicated credit line ahead of term. The new financing and collateral security structure used in the transaction spanned a total of 24 jurisdictions. The transaction marks another successful milestone by Heidelberger Druckmaschinen AG.

Lead by global law firm Clifford Chance, Frankfurt, as global lead counsel, Carsted Rosenberg acted as local counsel for Denmark for Heidelberger Druckmaschienen AG on the EUR 390,000,000 revolving credit facility  provided by a consortium of banks, with Deutsche Bank Luxembourg S. A. as facility agent. Heidelberger Druckmaschinen AG, is a worldwide enterprise based in Heidelberg, Germany, and one of the leading manufacturers of sheetfed offset printing machines. BNP Paribas, Citi, Commerzbank Aktiengesellschaft, Deutsche Bank AG and Landesbank Baden-Wurttemberg acted as mandated lead arrangers and book runners.

Clifford Chance, New York, Clifford Chance, London, Clifford Chance, Amsterdam, Clifford Chance, Paris, Clifford Chance, Singapore, Clifford Chance, Tokyo, Clifford Chance, Hong Kong, Fasken Martineau DuMoulin, Toronto, King & Wood Mallesons, Sydney, Wolf Theiss, Vienna and Carsted Rosenberg, Copenhagen all acted as local counsels to Heidelberg led by the Clifford Chance banking team in Frankfurt.

The bank syndicate was advised by White & Case, Munich as global lead counsel and White & Case, New York, White & Case, London, White & Case, Paris, White & Case, Hong Kong, White & Case, Tokyo, Nauta Dutilh, Amsterdam, Stiekmann Elliott, Toronto, Schönherr, Vienna, Allens Arthur Robinson, Sydney and Gorrissen Federspiel, Copenhagen as local counsels.

Following the successful arrangement of a syndicated credit line in early 2011, Heidelberger Druckmaschinen AG has further optimised its financing structure by extending the EUR 340,000,000 syndicated credit facility ahead of term. It was extended ahead of term until mid-2017 by the existing banking consortium lead by Deutsche Bank and comprising of Bank of America, BNP Paribas, Citigroup Global Markets, Commerzbank, Deutsche Bank, DZ Bank, KfW-IPEX-Bank, HSBC Trinkaus & Burkhardt, Landesbank Baden-Württemberg, Portigon and SEB acting as lenders, thereby furthering diversifying the financing structure of Heidelberger Druckmaschinen AG.

For further information on Danish banking and finance law, please consult our publications on Danish banking and finance law or contact Michael Carsted Rosenberg, Andreas Tamasauskas at Carsted Rosenberg. As a specialist Danish law firm, we offer unrivalled international transactional expertise in cross-border banking & finance transactions. We regularly act as Danish local counsel to the lenders or the borrowers on large-scale cross-border financial transactions led by global law firms.