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Allen & Overy advises banks on successful refinancing of Officium

Allen & Overy has advised the syndicate lenders (Kommunalkredit Austria AG, National Australia Bank Limited, Skandinaviska Enskilda Banken AB (publ) Frankfurt Branch) in connection with the successful refinancing of Officium GmbH (Officium) in the amount of EUR 83.5 million.

The new syndicated financing consists of a term loan and a working capital line and serves to refinance existing liabilities as well as to provide funds for growth and acquisitions.

Officium, acquired by infrastructure investor Arcus in January 2023, is a leading independent submetering provider, offering long-term rental of submetering equipment and related services for the measurement of heat and water consumption within multi-dwelling properties in Germany. The firm acts as the management company for a Germany-wide network of regional submetering companies, primarily focusing on Berlin, Brandenburg, Lower Saxony, North Rhine-Westphalia (Düsseldorf and Duisburg), Mecklenburg-Western Pomerania, Saxony-Anhalt (Dessau-Roßlau), Saxony (Dresden and Chemnitz), Thuringia, and Bavaria (Lower and Upper Franconia). With a focus on small and medium-sized property management companies and private landlords, Officium manages more than one million measuring devices.

The Allen & Overy team was led by partner Dr Walter Uebelhoer and senior associate Dr Rauni Ahammer and comprised furthermore of associate Dr Laura Frömel (all Banking & Finance, all Munich), partner Dr Heike Weber and associate Dr Manuel Köchel (both Tax, both Frankfurt). Partner Frank Mausen and associate Eugène Welter (both Banking & Finance, both Luxembourg) advised on Luxembourg law matters.