UniCredit Bank AG’s €235 Million Financing For VARTA AG

Noerr advised UniCredit Bank AG on the deal. DLA Piper advised VARTA AG.

UniCredit Bank AG acted as bookrunner, documentation agent and ESG coordinator on an €235,000,000 ESG-linked syndicated term loan and revolving credit facilities agreement for VARTA AG.

The purpose of the loan agreement is to refinance the existing syndicated credit agreement. Concluding the new syndicated financing enables VARTA AG to expand its financial leeway and, for the first time, link its syndicated financing to its sustainability achievements. The applicable margin will depend on factors including VARTA AG’s sustainability rating as provided by Sustainalitycs as ESG rating agency.

VARTA AG is active in the business segments Microbatteries and Power & Energy through its operating subsidiaries VARTA Microbattery GmbH and VARTA Storage GmbH. Already an innovation leader in the microbattery sector and a market leader for hearing-aid microbatteries, VARTA Microbattery GmbH also aspires to market leadership for lithium-ion batteries. VARTA Storage GmbH focuses on the design, system integration and assembly of stationary lithium-ion energy storage systems for households and commercial applications as well as customized battery storage systems for OEM customers. The Group’s operating subsidiaries are currently active in more than 75 countries around the world, with four production and assembly facilities in Europe and Asia as well as distribution centers in Asia, Europe and the United States.

The Noerr team was led by Dr Alexander Schilling (Picture) and Dr Nikolai Warneke (Banking & Finance, Frankfurt), with Patrick Geist (Banking & Finance, Frankfurt).

The DLA Piper-Team included Partner Dr. Roland Maaß (Lead – Corporate) und Counsel Robert Hofbauer (Co-lead), Counsel Martin Wilmsen (beide Finance & Projects), Of Counsel Martin Heinsius (Tax) sowie Foreign Associate Merve Schmitte (Finance & Projects, alle Frankfurt).

Inhouse team at VARTA AG was led by Julia Weber.

Involved fees earner: Martin Heinsius – DLA Piper; Robert Hofbauer – DLA Piper; Roland Maaß – DLA Piper; Merve Schmitte – DLA Piper; Martin Wilmsen – DLA Piper; Patrick Geist – Noerr; Alexander Schilling – Noerr; Nikolai Warneke – Noerr;

Law Firms: DLA Piper; Noerr;

Clients: UniCredit Bank AG; Varta AG;

Author: Federica Tiefenthaler