Herter & Co. – A Teneo Company advised Dansk Landbrugs Grovvareselskab a.m.b.a. (“DLG”) on its new group financing. The transaction volume of the new syndicated loan including term and revolving credit facilities amounts to EUR 1.1bn.
“The newly structured group financing offers a solid financial framework for the years to come and reorganizes our former historically driven debt structure consisting of various instruments of bilateral and syndicated nature held by individual group companies. We are very pleased to have strong and reliable banking partners at our side. Herter & Co. has provided very valuable support throughout all phases of the transaction process from structuring and debt sizing until arranging and completion” said Christina Nielsen, CFO of the DLG Group.
The new syndicated loan facility is backed by a club of 10 banks and features an ESG component.
DLG takes a leading position amongst the largest production and trading companies in the European agricultural sector. It is also a leading player in the German markets for energy and building materials. DLG has been following a sustainable and stable growth path and has also been demonstrating its ability to act as an important industry consolidator.
DLG is owned by 25,000 Danish farmers and located in Fredericia. It has 6,700 employees and in 2022 achieved a record group turnover of DKK 80bn resulting from business activities in 18 countries.
Herter & Co. supported DLG on this transaction as Sole Debt Advisor.
