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Schoenherr advised a consortium of six banks, led by Raiffeisen Bank International AG, regarding a EUR 125m credit facility for the Austrian lighting group Zumtobel.
In addition to Raiffeisen Bank International AG, the banking syndicate includes UniCredit Bank Austria AG, Commerzbank AG, and Skandinaviska Enskilda Banken AB (publ), as mandated lead arrangers and bookrunners, as well as Hypo Vorarlberg Bank AG and Bank für Tirol Vorarlberg AG as lead arrangers.
With the new credit facility Zumtobel has refinanced a syndicated loan ahead of its maturity in 2022, securing long-term liquidity for the group. The facility has a term of five years, including two one-year extension options and an increase option to EUR 350m.
"We are proud to have advised the bank consortium on this important credit facility for the Zumtobel Group," said partner Martin Ebner, who led the Schoenherr team.
The Zumtobel Group is an international lighting group and a leading supplier of innovative lighting solutions, lighting components and associated services. It is listed on the Vienna Stock Exchange (ATX Prime) and currently holds a workforce of around 5,800 employees. In the 2020/21 financial year, the Group posted revenues of EUR 1,044.5m. The Zumtobel Group is based in Dornbirn in the Vorarlberg region of Austria.
The Schoenherr team was led by Martin Ebner (partner) and further included Mate Kovacs (attorney at law) and Viktoria Stark (associate).
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