Ashurst advises Grammer on amendment of existing syndicated loan

Ashurst advised long-standing client Grammer AG (Grammer) in connection with the amendment and restatement of its existing €385m and US$70m syndicated loan made available by a consortium of banks comprising COMMERZBANK Aktiengesellschaft and UniCredit Bank AG as mandated lead arrangers. In addition, KfW is participating in the financing.

Due to the amendment, Grammer accomplished long-term financing stability and in particular the extension of the term of the revolving credit facility made available for general corporate purposes until 2025.

Grammer specialises in the development and production of complex components and systems for automotive interiors as well as suspension driver and passenger seats for onroad and offroad vehicles. Ashurst has been advising the automotive supplier for many years, both in the context of transactions and on general corporate law matters as well as financings.

The Ashurst team was led by partner Dr Matthias Weissinger. He was assisted by senior associate Franziska Sauer and associate Lorenz Schwojer (all Global Loans, Munich).

Ashurst's German banking and finance practice advises both banks and alternative lenders, private equity investors and companies on domestic and cross-border acquisition, real estate, asset and infrastructure / project finance as well as on financial restructuring and corporate lending.