White & Case LLP - News - White & Case Advises on €1.4 Billion Financing of Heidelberger Druckmaschinen AG

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White & Case Advises on €1.4 Billion Financing of Heidelberger Druckmaschinen AG

Munich, Berlin, Frankfurt, London, New York, Paris, Hong Kong, Tokyo September 3, 2009 ... Global law firm White & Case LLP advised Deutsche Bank, Commerzbank and LBBW as Mandated Lead Arrangers in relation to the refinancing of Heidelberger Druckmaschinen Aktiengesellschaft.

Heidelberger Druckmaschinen Aktiengesellschaft has agreed aggregate credit facilities of €1.4 billion until mid-2012, ensuring the future liquidity of the group. In June, Heidelberg obtained general approval by the banks as well as the decision to grant a state guarantee by the Federal Republic of Germany and certain federal states for its proposed refinancing.

The financing consists of three components and includes backing by the German State Aid programme (Konjunkturpaket): a €300 million loan of KfW's (Kreditanstalt für Wiederaufbau) special programme for larger companies (50% indemnity through KfW), a €550 million loan backed by state guarantees covering up to 90% of the loan, and a €550 million syndicated loan.‬‪

"Advising the banks in the implementation of the complex financial structure with three syndicates of banks including state guarantees and the KfW special programme for larger companies was a challenging task," commented Leïla Röder, a local partner at White & Case.

‬‪The team of White & Case was led by local partner Leïla Röder (Munich) and included partner Dr. Tom Oliver Schorling (Finance, Frankfurt) and associates Clemens Niedner, Philipp Jentzmik and Alexandra Sarstedt (all Finance). Partner Prof. Dr. Norbert Wimmer and counsel Christoph Arhold advised on aspects regarding state aid (State Aid, Berlin). The team was also supported by White & Case lawyers in London, New York, Paris, Hong Kong and Tokyo as well as external local counsels in five other jurisdictions.

With a global market share for sheetfed offset printing machines of more than 40%, Heidelberger Druckmaschinen Aktiengesellschaft is the world's leading solution provider for commercial and industrial customers in the print media industry. Headquartered in Heidelberg, Germany, the company focuses on the entire process and value chain for popular format classes in the sheetfed offset and flexographic printing sectors.

About White & Case
White & Case LLP is a leading global law firm with 36 offices in 25 countries. Among the first US-based law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, arbitration and litigation provided by our global practices. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to meeting the business priorities and legal needs of our clients.

Contacts:
Barbara Gruber
+49 69 29994 1122

Ian Kitts
EMEA Media Relations & Corporate Communications Mgr
White & Case
+44 20 7532 2857

Erica Howard
Media Relations Executive, White & Case
+44 20 7532 2852

	Press Releases
Expertise Banking Lawyers Leïla M. Röder Dr. Tom Oliver Schorling Prof. Dr. Norbert Wimmer	White & Case Advises on €1.4 Billion Financing of Heidelberger Druckmaschinen AG Munich, Berlin, Frankfurt, London, New York, Paris, Hong Kong, Tokyo September 3, 2009 ... Global law firm White & Case LLP advised Deutsche Bank, Commerzbank and LBBW as Mandated Lead Arrangers in relation to the refinancing of Heidelberger Druckmaschinen Aktiengesellschaft. Heidelberger Druckmaschinen Aktiengesellschaft has agreed aggregate credit facilities of €1.4 billion until mid-2012, ensuring the future liquidity of the group. In June, Heidelberg obtained general approval by the banks as well as the decision to grant a state guarantee by the Federal Republic of Germany and certain federal states for its proposed refinancing. The financing consists of three components and includes backing by the German State Aid programme (Konjunkturpaket): a €300 million loan of KfW's (Kreditanstalt für Wiederaufbau) special programme for larger companies (50% indemnity through KfW), a €550 million loan backed by state guarantees covering up to 90% of the loan, and a €550 million syndicated loan.‬‪ "Advising the banks in the implementation of the complex financial structure with three syndicates of banks including state guarantees and the KfW special programme for larger companies was a challenging task," commented Leïla Röder, a local partner at White & Case. ‬‪The team of White & Case was led by local partner Leïla Röder (Munich) and included partner Dr. Tom Oliver Schorling (Finance, Frankfurt) and associates Clemens Niedner, Philipp Jentzmik and Alexandra Sarstedt (all Finance). Partner Prof. Dr. Norbert Wimmer and counsel Christoph Arhold advised on aspects regarding state aid (State Aid, Berlin). The team was also supported by White & Case lawyers in London, New York, Paris, Hong Kong and Tokyo as well as external local counsels in five other jurisdictions. With a global market share for sheetfed offset printing machines of more than 40%, Heidelberger Druckmaschinen Aktiengesellschaft is the world's leading solution provider for commercial and industrial customers in the print media industry. Headquartered in Heidelberg, Germany, the company focuses on the entire process and value chain for popular format classes in the sheetfed offset and flexographic printing sectors. About White & Case White & Case LLP is a leading global law firm with 36 offices in 25 countries. Among the first US-based law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, arbitration and litigation provided by our global practices. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to meeting the business priorities and legal needs of our clients. Contacts: Barbara Gruber +49 69 29994 1122 Ian Kitts EMEA Media Relations & Corporate Communications Mgr White & Case +44 20 7532 2857 Erica Howard Media Relations Executive, White & Case +44 20 7532 2852