Herter & Co. advises OHB SE on refinancing
Herter & Co. has advised publicly listed OHB SE on the refinancing of its syndicated loan (initially entered into in 2013, amended & extended in 2016). The new credit facilities have a total volume of €300 million (increase of €75 million vs. the prior financing), and will serve to finance OHB SE and its European subsidiaries. The term of the syndicated loan is five years with two one-year extension options.
“Given our growing business, the high order backlog and future project wins, we decided to establish a new and increased debt financing solution today, well before the maturity of our prior syndicated loan. This provides us with long-term financing security and comfortable liquidity to further pursue our growth path in the years to come. Despite the currently tense financing market, our solid business model and the support of Herter & Co. enabled us to obtain this new and increased financing at attractive conditions. Following the financing processes in 2013 and 2016, Herter & Co. once again provided us with professional and comprehensive support, from the analysis and identification of suitable structures, through negotiations and communications with the banks, to the finalization of the agreement.”, said Kurt Melching, CFO at OHB SE.
The new credit facilities are provided by a consortium of long-standing house banks incl. Bayerische Landesbank, Commerzbank AG, Deutsche Bank AG, Landesbank Baden-Württemberg, Unicredit Bank AG and Landesbank Hessen-Thüringen Girozentrale.
OHB SE together with its subsidiaries is a European space and technology group and one of the main independent forces in the European aerospace industry.
Herter & Co. acted as Sole Debt Advisor to OHB SE.