Noerr advises Daimler Truck AG on new Euro 5 billion revolving credit facility

A team from Noerr led by Alexander Schilling and Andreas Naujoks has advised Daimler Truck AG on its new Euro 5 billion revolving credit facility. The new credit facility replaces Daimler Truck AG's syndicated credit facility in the same amount that has been in place since the company’s spin-off from former Daimler AG even before it reaches maturity.

The new syndicated credit facility serves both to increase Daimler Truck AG’s financial flexibility and secure its long-term liquidity as well as to hedge its first-class credit rating. The term of the new credit facility is five years, with the option to extend it twice by an additional year each time. The new credit facility agreement also includes the option to increase the credit facility by a further EUR 1.5 billion, subject to the approval of the lending banks. In addition to BNP Paribas, Deutsche Bank and LBBW, acting as coordinators in the negotiations of the credit facility agreement, further 26 national and international banks are involved as lenders of the new credit facility.

Legal advice on the syndicated credit facility was lead by the Daimler Truck in-house legal team consisting of Klaus Pirkner and Sercan Ö. Demiral (both Daimler Truck AG Legal Group Funding, Leinfelden-Echterdingen).

Advisors to Daimler Truck AG: Noerr