Noerr advises Hertha BSC on comprehensive refinancing and extension of €40m Nordic Bond

Under the joint leadership of Dominik Kloka and Christian Pleister, Noerr has advised football club Hertha BSC GmbH & Co. KGaA (“Hertha BSC”) on the successful implementation of a comprehensive refinancing strategy and extension of its outstanding Nordic Bond. The transaction was related to the granting of the licence by DFL Deutsche Fußball Liga GmbH (“DFL”) for Hertha BSC’s participation in Bundesliga 2 in the coming season.

Noerr’s legal advice focused on the conclusion of secured loan agreements to refinance the Nordic Bond and the parallel implementation of a written bondholder voting procedure to extend the term of the €40 million Nordic Bond issued under Swedish law. In addition, Noerr advised the football club comprehensively throughout the DFL licensing procedure, which ended successfully on 4 June 2025 with the award of the licence to Hertha BSC.

Hertha BSC:

Björn Bäring, Director Finance

Marcus Becker, Director Legal & HR, Authorized Representative

Noerr:

Lead: Dominik Kloka (partner, Capital Markets, Frankfurt), Christian Pleister (partner, M&A, Berlin)

Capital Markets: Sebastian de Schmidt (counsel, Frankfurt)

Corporate: Nicholas Palenker (senior associate, Berlin), Konrad Fichter (senior associate, Berlin), Marcus Braun (associate, Munich), Tarik Khettal (associate, Berlin) 

Advisor on Swedish law: Roschier