Herter & Co. – A Teneo Company – has successfully advised expert SE (“expert”) on its new group financing. The newly arranged syndicated loan includes a term loan and revolving credit facilities.
“The newly structured, long-term group financing provides a solid financial basis for the coming years. It efficiently consolidates our previous complex and mainly bilateral financing structure. We would like to thank our existing banks for their loyalty and welcome our new banking partners. Herter & Co. provided valuable support during the transaction process, including arranging the financing structure, negotiation support and the successful completion of the transaction,” said Michael Grandin, CFO of the expert Group.
The syndicated loan is provided by a consortium consisting of eight banks.
With over 390 locations, more than 14,000 employees nationwide, and a group turnover of approximately €2.0 billion, the Hanover-Langenhagen based company, is the third largest electronics retailer in Germany. As a trading cooperative group for consumer electronics, IT, telecommunications, entertainment, and household appliances, expert has operated as a wholesale company for its retailers since 1962.
Herter & Co. – A Teneo Company – acted as sole debt advisor to expert.
