Milbank LLP has advised the lenders on a €400 million ESG-linked syndicated financing of K+S Aktiengesellschaft ("K+S").
The revolving credit facility for the refinancing of K+S Group is provided by a consortium of 10 banks and has been coordinated by DZ-BANK, Landesbank Hessen-Thüringen and LBBW. As an ESG-linked credit facility, the financing is linked to the development of certain sustainability KPIs relating to CO2emissions, accident figures and sustainable supply chains.
K+S is an internationally oriented raw materials company with production sites in Europe and North America and more than 11,000 employees. With a global distribution network K+S' business is focused on four segments - Agriculture, industry, consumers and communities - and focuses increasingly on fertilizers and specialties. The K+S plant fertilizers not only support agriculture in the flourishing of harvests but are also largely approved for organic farming. The company also offers high-quality potash, magnesium and salt products to industries for various applications. In its business activities, K+S pays particular attention to the environment, nature and climate protection.
The Milbank team that advised the lenders on the financing aspects of the transaction was led by partner Thomas Ingenhoven and included associate Gerrit Merkel (both Finance) as well as partner Thomas Kleinheisterkamp and associate Elisabeth Wöhrle (both Tax).
