Noerr’s Budapest office has advised ErlingKlinger AG, a Frankfurt stock exchange listed innovative car part manufacturer, on its financing by a syndicate consisting of Commerzbank, Landesbank Baden-Wurttemberg, Deutsche Bank, DZ Bank, HSBC, and Banque Europeenne du Credit Mutuel.
The parties signed the syndicated loan agreement documents on February 15, 2019.
According to Noerr, ErlingKlinger AG is based in Germany, and "its global presence stretching from the US to Japan focusing on producing alternative car engine solutions including hydrogen-powered drive systems and electric drive units. The agreement covers a total volume of EUR 350 million over a minimum term of five years."
Noerr's team was led by Partner Edina Schweizer.
Noerr reported that the identity of counsel for the banks was confidential.