SAP SE has signed an ESG-linked EUR 3bn syndicated revolving credit facility with an international consortium of 20 banks. The new facility replaces an existing syndicated loan and has a term of five years with extension options for up to two additional years.
The interest rate is linked to the achievement of annual sustainability performance targets for the CO2 reduction and the female share in management positions. Citibank, Commerzbank, Landesbank Hessen-Thüringen Girozentrale and ING Bank acted as coordinators.
Hengeler Mueller for the bank syndicate
Financing: Henning Hilke (partner, lead), Johannes Tieves (partner), Simon Tänzer (associate, all Frankfurt), Mathias Menzel (associate, London),
Tax: Markus Ernst (partner), Tobias Schwab (associate, both Munich).