Ashurst advised the lenders on the refinancing of the loan agreement for the automotive and supplier industry service provider Formel D. The €179m financing has been significantly extended for four years.
Based in Cologne / Germany, Formel D has established itself in recent years as a global partner to the automotive and supplier industry, safeguarding and improving its customers’ quality requirements and targets across the entire value chain. In 2020, Formel D initiated a process of further strategic development to continue to expand this position in a rapidly changing market environment. The financing provides Formel D with planning security for the continuation of its strategic development.
The Ashurst team was led by partner Anne Grewlich. She was assisted by counsel Judit Körmöczi and associate Dr Galina Matjuschkin (all Global Loans, Frankfurt).
Ashurst's German banking and finance practice advises both banks and alternative lenders, private equity investors and companies on domestic and cross-border acquisition, real estate, asset and infrastructure / project finance as well as on financial restructuring and corporate lending.
