Ashurst advised HAWE Hydraulik SE (HAWE) on the conclusion of a new syndicated loan agreement. Bayerische Landesbank, Commerzbank AG, Deutsche Bank AG and HSBC Trinkaus & Burkhardt AG participated in equal parts as Mandated Lead Arrangers and Bookrunners in the syndicated loan. Commerzbank took on the role of documentation agent, while Deutsche Bank was mandated as an administrative agent. The new syndicated loan agreement has a term of 5 years and a volume of €130m.
HAWE, with headquarters in Aschheim near Munich, focuses on hydraulic components and systems. The company generated an annual turnover of €461m last year with over 2,600 employees. With the new loan agreement, HAWE replaces the existing syndicated loan. Overall, the conditions have been significantly improved compared to the old agreement. Deutsche Bank and HSBC have joined the banking group as new lenders. HAWE is increasing its financial capacity and internationalising its financing partners with the new syndicated loan, which becomes a strategic tool in support of the global growth strategy.
The Ashurst team was led by partner Anne Grewlich and counsel Sabrina Bremer. They were assisted by senior transaction lawyer Petra Schott (all Global Loans, Frankfurt).
Ashurst’s German banking and finance practice advises both banks and alternative lenders, private equity investors and companies on domestic and cross-border acquisition, real estate, asset and infrastructure / project finance as well as on financial restructuring and corporate lending.