Hengeler Mueller advised Covestro on the transaction.
Covestro has successfully signed a new EUR 2.5bn syndicated revolving credit facility with its core banks. The facility has a term of five years including two one-year extension options and can be drawn in different currencies.
The new facility is linked with Covestro’s environmental, social and governance (ESG) rating: the better the company’s ESG performance is, the lower the interest component of the credit line will be.
Covestro AG is a German company which produces specialty chemicals for heat insulation foams and transparent polycarbonate plastics.
The Hengeler Mueller team included partner Johannes Tieves (Picture) and associate Rudolf Mehl (both Financing, Frankfurt).
Law Firms: Hengeler Mueller;
Clients: Covestro AG;