Schaltbau Holding AG’s €150 New Syndicated Credit Facilities Agreement Including ESG Component

Noerr advised Schaltbau Holding AG on the deal.

Schaltbau Holding AG has signed a new Syndicated Credit Agreement with UniCredit Bank AG and Commerzbank AG as book runners.

Moreover, DZ Bank AG, Landesbank Hessen-Thüringen, Oldenburgische Landesbank AG and Deutsche Bank AG are all involved as mandated lead arrangers or lead arrangers. Schaltbau will utilise the new Syndicated Credit Agreement to repay the existing agreement amounting to EUR 172 million prior to the due date. KfW is no longer part of the syndicate.

The new agreement comprises revolving credit lines amounting to EUR 150 million with a term of three years and options to extend for up to two further years at substantially better conditions and without major restrictions on the use of the funds. For the first time, Schaltbau has entered into a credit agreement that includes an ESG component. Based on the annual Ecovadis sustainability rating, Schaltbau Holding AG can reduce the cost of the credit by achieving predefined targets.

Schaltbau Holding AG (ISIN: DE000A2NBTL2) is listed in the Prime Standard segment of the regulated market of Deutsche Börse AG in Frankfurt am Main. With annual Group revenue in the region of EUR 500 million and around 3,000 employees, Schaltbau is an internationally leading supplier of systems and components in the field of transportation technology and the capital goods industry. With Pintsch, Bode, Schaltbau and SBRS as their core brands, Schaltbau Group companies develop a wide range of high-quality technologies and customer-specific technological solutions for rail infrastructure, rolling stock, passenger cars and commercial vehicles. As one of the few specialists for smart DC-based energy concepts, the Schaltbau Group is also a driver of innovation in the fast-growing markets of tomorrow such as New Energy / New Industry and E-Mobility.

The Noerr team included was led by Dr Alexander Schilling (Picture) and Dr Nikolai Warneke (Banking and Finance, Frankfurt), together with Dr Fabian Radke (Banking and Finance, Frankfurt).

Involved fees earner: Fabian Radke – Noerr; Alexander Schilling – Noerr; Nikolai Warneke – Noerr;

Law Firms: Noerr;

Clients: Schaltbau Holding AG;

Author: Federica Tiefenthaler