Milbank LLP has advised Funke on the comprehensive refinancing of its existing syndicated financing facilities.
With this transaction, the initial EUR 655 million syndicated loan agreement from 2018, which included term loans and a revolving credit facility, as well as the syndicated guarantee credit agreement from 2021, were replaced with new syndicated financing facilities in an aggregate of EUR 500 million with term loans, a guarantee facility and a revolving credit facility. The new financing facilities are provided by a consortium of eight banks.
Funke, with headquarters in Essen and approximately 6,000 employees, is a leading German media group with diverse participations in print and digital business.
The Milbank team that advised Funke on the financial and tax aspects of the transaction was led by partner Thomas Ingenhoven (Finance) and included partner Thomas Kleinheisterkamp (Tax) and associates Gerrit Merkel, Sebastian Trompler and Lara Milione (Finance).
