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Freshfields and Wolf Theiss Advise on EUR 800 Million Credit Line for Vitesco Technologies Group

Freshfields and Wolf Theiss Advise on EUR 800 Million Credit Line for Vitesco Technologies Group

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Freshfields Bruckhaus Deringer and Wolf Theiss have advised a consortium of banks on the EUR 800 million revolving ESG-linked credit facility for the Vitesco Technologies Group. Creel Garcia-Cuellar Aiza y Enriquez and Yulchon reportedly advised the banks in Mexico and South Korea, respectively.

The financing was secured by facility agent Deutsche Bank, documentation agent ING Bank, JP Morgan SE, ESG coordinator LBBW, and UniCredit Bank in the form of underwriting, and was subsequently syndicated among an extended group of banks.

According to Freshfields, “with this new RCF, Vitesco Technologies replaces the post-spin-off financing of ultimately EUR 800 million that the company raised about a year ago. The securities agreed upon at that time have now been released by the banks. The release and guarantee negotiations involved a total of ten jurisdictions.”

According to the firm, “in September 2021, Vitesco Technologies had been floated on the stock exchange as a spin-off of the Powertrain division from Continental AG.”

Freshfields' team included lawyers in Frankfurt, Amsterdam, Paris, Milan, and New York.

Wolf Theiss’ team included Hungary-based Counsel Melinda Pelikan and Associates Laszlo Lovas and Viktoria Horvath, Romania-based Partner Claudia Chiper and Senior Associate Iuliana Stoicescu, and Czech Republic-based Partner Robert David.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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