Hengeler Mueller advises CECONOMY on EUR 1 billion ESG-linked syndicated revolving credit facilities

CECONOMY AG has signed new ESG-linked syndicated revolving credit facilities of EUR 1.06 billion with a consortium of its 13 partner banks. They are to replace syndicated revolving credit facilities with the participation of KfW as a back-up line and are split into two tranches with terms of three and five years including two one-year extension options respectively. The interest rate is linked to the achievement of predefined annual ESG targets for the CO2 reduction, the number of sustainable products in the assortment and the female share in management positions.

Hengeler Mueller advised CECONOMY on the transaction. The team included partner Nikolaus Vieten as well as associates Henning Hilke and Leonie Adam (all Financing, Frankfurt).