Latham & Watkins Advises International Syndicate of Banks on €2 Billion Credit Facility for Fresenius

Latham & Watkins LLP has advised the international consortium of 29 core banks on a €2 billion syndicated revolving credit facility for Fresenius. The new credit facility replaces the existing €1.1 billion and US$500 million revolving credit facilities originally entered into in 2012 and amended from time to time. The new revolving credit facility has a five year term with two one-year extension options and can be drawn in various currencies. 

A key component of the credit line is the link to sustainability: the margin of the credit line will be adjusted upwards or downwards depending on a change in the company's sustainability performance. This is Fresenius' first sustainability-related financial transaction and demonstrates the increasing importance of sustainability in financing. 

Fresenius is a global health care group with products and services for dialysis, hospital, and outpatient care. With over 300,000 employees in more than 100 countries and annual sales of more than €36 billion, Fresenius is one of the world's leading healthcare companies. 

The Latham team was led by Frankfurt partner Sibylle Münch, with associate Martina Eisgruber and Munich associate Philipp Guggeis. Advice was also provided on tax matters by Munich counsel Ulf Kieker and on finance matters by Frankfurt legal analyst Dilek Bektas.