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Allen & Overy advises Daimler on 18 billion euro syndicated loan in connection with the spin-off of Daimler Truck business

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Uebelhoer Walter
Dr Walter Uebelhoer

Partner

Munich

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Baudisch Ilja
Dr Ilja Baudisch

Counsel

Munich

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Harald Klett
Harald Klett

Manager PR & Communications

Frankfurt am Main

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13 December 2021

Allen & Overy has advised Daimler AG in connection with the spin-off of its truck business on a syndicated loan agreement in the amount of 18 billion euro for Daimler Truck Holding AG, Daimler Truck AG and several Daimler Truck financing companies.

The funding serves to secure financial flexibility as well as to cover financing needs of the new Daimler Truck Group. It includes, amongst others, a revolving credit line and a bridge facility.

The international banking syndicate includes, but is not limited to BNP Paribas, Citibank N.A. (London Branch), Deutsche Bank AG and J.P. Morgan AG as coordinators, bookrunners and mandated lead arrangers, with Deutsche Bank Luxembourg S.A. acting as facility agent and Deutsche Bank Trust Company Americas as swingline agent.

Legal advice on the syndicated facilities was coordinated by the responsible Daimler in-house legal team, consisting of Patrick Schwarz and Dr. Alexandra Lindemeier (both Daimler AG Legal Corporate Finance, Stuttgart).

The team of Allen & Overy was jointly led by partner Dr Walter Uebelhoer and counsel Dr Ilja Baudisch (both banking & finance, Munich) and included lawyers from Allen & Overy in the Netherlands and the US. Local law advise on Canadian law was provided by Gowling WLG.

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