K+S AG’s € 960 Million Refinancing

Milbank LLP advised a banking consortium led by DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Landesbank Baden-Württemberg and Landesbank Hessen-Thüringen Girozentrale on the refinancing of the existing credit facilities agreement of K+S AG.

The new syndicated loan financing comprises a term loan and a revolving credit line with a volume of approximately one billion euros. The financing bank consortium consists of 12 banks.

The funds made available were used in part for refinancing financial liabilities which were due, and general corporate purposes.

K+S AG, a listed company based in Kassel, is a leading supplier of mineral products for agriculture, industry, consumers and municipalities. The company has about 15,000 employees and production facilities in Europe, North and South America as well as a worldwide distribution network.

The Milbank team was led by Dr. Thomas Ingenhoven (Picture) and included Thomas Kleinheisterkamp (Tax, Munich), Odilo Wallner, Michael Henn, Achim Rohr (all Finance, Frankfurt), Yasmin Holm (Tax, Munich).

Involved fees earner: Michael Henn – Milbank; Yasmin Holm – Milbank; Thomas Ingenhoven – Milbank; Thomas Kleinheisterkamp – Milbank; Achim Rohr – Milbank; Odilo Wallner – Milbank;

Law Firms: Milbank;

Clients: DZ BANK AG; Landesbank Baden-Württemberg ; Landesbank Hessen-Thüringen Girozentrale;