Clifford Chance
Clifford Chance advises a bank syndicate on the EUR 400 million sustainability-linked bond of Südzucker
10 November 2022
- Sebastian Maerker, , Jurgen van der Meer, , Nolan Groenland, Robin Houtveen, Niels Kuil
- Frankfurt, Amsterdam
Clifford Chance advises a bank syndicate on the EUR 400 million sustainability-linked bond of Südzucker
International law firm Clifford Chance has advised a bank syndicate comprising BNP Paribas, Deutsche Bank, DZ BANK, LBBW and UniCredit on the first sustainability-linked bond issue of Südzucker under its new Sustainability-Linked Financing Framework.
The bond was issued by Südzucker International Finance B.V. and is guaranteed by Südzucker AG, has a volume of EUR 400 million, a term of five years and a coupon of 5.125 per cent. Investors may receive an increased redemption amount subject to the achievement of a greenhouse gas reduction target set out in the terms of the bond. The bond proceeds will be used for general corporate purposes, including the refinancing of a bond maturing next year.
Clifford Chance frequently advises corporate and financial institution issuers and bank syndicates in connection with green and social bonds and other ESG-related transactions such as sustainability-linked bonds.
The international Clifford Chance advisory team for the bank syndicate comprised partner Sebastian Maerker, senior associate Wolfgang Ettengruber and transaction lawyer Marlen Klepsch (all Capital Markets, Frankfurt) together with partner Jurgen van der Meer, senior counsel Tineke Kothe and trainee lawyer Niels Kuil (all Global Financial Markets) as well as counsel Nolan Groenland and senior associate Robin Houtveen (both Tax, all Amsterdam).
