Noerr advises UniCredit Bank AG on ESG financing for VARTA AG

Led by Alexander Schilling and Nikolai Warneke, our firm has advised UniCredit Bank AG as bookrunner, documentation agent and ESG coordinator on an €235,000,000 ESG-linked syndicated term loan and revolving credit facilities agreement for VARTA AG.

The purpose of the loan agreement is to refinance the existing syndicated credit agreement. Concluding the new syndicated financing enables VARTA AG to expand its financial leeway and, for the first time, link its syndicated financing to its sustainability achievements. The applicable margin will depend on factors including VARTA AG’s sustainability rating as provided by Sustainalitycs as ESG rating agency.

“The legal aspects of this matter were particularly interesting because they enabled us to once again demonstrate our expertise in advising on sustainable financing for innovative companies, taking into account the three sustainability criteria, environment, social and governance,” said Alexander Schilling.

Advisors to UniCredit Bank AG: Noerr Partnerschaftsgesellschaft mbB
Lead: Dr Alexander Schilling and Dr Nikolai Warneke (Banking & Finance, Frankfurt)
Patrick Geist (Banking & Finance, Frankfurt)