DLA Piper advises VARTA AG on refinancing of existing syndicated credit facility

DLA Piper has successfully advised VARTA AG on the refinancing and extension of an existing syndicated credit facility. The new ESG linked syndicated term and revolving credit facility amounts to EUR235 million. UniCredit Bank AG acted as bookrunner, documentation agent and ESG coordinator.

Through the closing of the new syndicated financing, VARTA AG obtains an extended financing scope and also links its financing to the sustainability performance of the company for the first time. In the future, the amount of the applicable margin will depend, among other things, on the sustainability rating assigned to VARTA AG by the ESG rating agency Sustainalytics.

The VARTA AG Group currently employs almost 4,800 people. With five production and manufacturing facilities in Europe and Asia, as well as distribution centers in Asia, Europe and the USA, VARTA AG's operating subsidiaries are currently active in over 75 countries worldwide.

The DLA Piper team was jointly led by partner Dr. Roland Maaß (Corporate) and counsel Robert Hofbauer and included counsel Martin Wilmsen (both Finance & Projects), of counsel Martin Heinsius (Tax) and foreign associate Merve Schmitte (Finance & Projects, all Frankfurt).

Julia Weber (VARTA AG, Head of Legal & Compliance) acted as in-house lawyer on this refinancing.