Milbank LLP advised Bike24 Holding AG (BIKE24), a Frankfurt Stock Exchange-listed company, on the extension of its existing €40 million bank facilities.
After a short-term extension of its bank facilities in March 2024, BIKE24 demonstrated its ability to deliver its business plan amid industry-wide margin pressure. This led to a medium-term financing solution with its existing lenders, consisting of a consortium of three banks. The extended bank facilities are enhancing operational flexibility by introducing a covenant framework aligned with BIKE24’s strategic and operational needs.
BIKE24 is a leading e-commerce platform for bikes, parts, components, accessories, and clothing for the community of cycling enthusiasts. Founded in 2002 and headquartered in Dresden, Germany, the company has grown from a specialised online retailer to one of the leading e-commerce platforms in continental Europe with a focus on the premium segment. With more than 900,000 active customers and a comprehensive selection of around 77,000 products, BIKE24 is a leading one-stop shop for all cycling needs. Using its state-of-the-art AutoStore warehouse systems located in Dresden and Barcelona, Spain, it can efficiently serve customers in more than 80 countries.
The Milbank team that advised BIKE24 was led by partner Thomas Ingenhoven and included special counsel Thomas Möller and associate Adrian Müller-Achenbach (all Finance, Frankfurt).
