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Allen & Overy Advises SGL Carbon on Syndicated Revolving Credit Facility

Allen & Overy Advises SGL Carbon on Syndicated Revolving Credit Facility

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Allen & Overy has advised SGL Carbon SE, a leading global manufacturer of carbon-based products and materials based in Wiesbaden, Germany, on the conclusion of a syndicated revolving credit facility with a syndicate of banks advised by Freshfields. Binder Groesswang advised SGL Carbon on matters of Austrian law, with Burness Paull advising the company in Scotland, Viera de Almeida & Associados in Portugal, and Baker & McKenzie in the United States.

The credit facility, arranged by Commerzbank, Deutsche Bank, LBBW and UniCredit Bank in the amount of EUR 150 million, replaces the existing syndicated credit facility and will be used for general corporate financing purposes of SGL Group as well as for refinancing purposes. The credit facility was concluded in the context of the capital increase of SGL Carbon SE which was resolved and announced on November 29, 2016 to strengthen the capital structure, improve the leverage ratio, and enhance the financial flexibility of the Group.

Allen & Overy had previously advised SGL Group on the finance law aspects of the spin-off and disposal of activities of its Performance Products segment.

The Frankfurt-based Allen & Overy team was led by Partners Thomas Neubaum and Marc Plepelits and included Counsels Dr Mark Hallett and Urs Lewens, Senior Associates Martin Schmidt and Timothy Knauff, and Associates David Schmidt and Anna Serwotka. 

Also involved in the transaction were Allen & Overy teams in Madrid, Amsterdam, and Warsaw. The Warsaw team consisted of Partners Tomasz Kawczynski and Arkadiusz Pedzich and Associate Artur Rutkowski. The Madrid team consisted of Partner Ignacio Ruiz-Camara, Senior Associate Vanessa Cuellas, and  Associates Jesus Miralles de Imperial and Sara Sanz. The Amsterdam team consisted of Partner Sigrid Jansen, Senior Associate Erik-Jan Wagenvoort, and Associate Krit Zeegers. 

In-house advice at SGL Carbon was provided by Senior Legal Counsel Dirk Matthes. 

Binder Groesswang did not reply to our inquiry on the matter. 

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