First syndicated loan for southern German tool manufacturer
19. May 2019
Leading global manufacturer of special tools in southern Germany with sales of €250 million concludes first syndicated loan of €85 million.
DUKAP provided comprehensive advice and support to a leading manufacturer of special tools from southern Germany to prepare and implement a programme to fundamentally reorganise and expand its debt structure. In 2018, the group of companies generated sales revenues of more than €250 million in more than 30 countries.
The group’s new long-term financing will allow it to implement its ambitious growth plans and provide financial security for its subsidiaries on five continents. In addition to the €85 million syndicated loan for cash and guarantee drawdowns, which can be disbursed in a range of currencies, the new facilities also include options for off-balance sheet financing. In the course of the restructuring, the costs of the financing were significantly reduced, the workload of the company’s treasury department was streamlined and previously agreed loan covenant restrictions were lifted.
DUKAP supported the group in identifying needs, developing the financing structure, approaching suitable international financing providers, evaluating offers and negotiating loans until successful completion.