Global law firm White & Case LLP has advised the documentation agent and banks on a group-wide financing of world chainsaw market leader STIHL to cover seasonal fluctuations in working capital management.
At the heart of the transaction is an innovative Common Terms Agreement (CTA) that consolidates all overarching arrangements between STIHL and the participating core banks in a single document. On this basis, individual bilateral loan agreements with harmonized terms and an aligned legal framework were subsequently concluded – comparable to the structure of ancillary facilities.
The transaction was arranged by STIHL and supported by SEB as documentation agent. STIHL used the vc trade digital platform for contractual processing and communication, both for commenting on the documents and for allocating the financing volumes and confirming the disbursement conditions. A special feature of the structure is the continuous and complete administration of the financing arrangements by STIHL's treasury department via the vc trade platform.
The White & Case team in Frankfurt which advised on the transaction was led by counsel Sascha Schmidt.
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