GELITA AG – securing growth strategy through extension of credit line
With a Frankfurt-based team led by Partner Thomas K. Schrell, business law firm Heuking Kühn Lüer Wojtek advised GELITA AG on extending its existing EUR 100 million financing line.
The financing agreement was extended by 5 years at the same credit volume, with the option to extend the agreement twice for another year each time. The scope for future acquisitions was considerably extended by broadening the scope of the authorization and by adjusting a remaining financial covenant. In addition, further contractual provisions of the financing documentation were adjusted in line with changed market conditions. The group of lending banks includes DZ Bank AG, Landesbank Hessen Thüringen Girozentrale, Deutsche Bank Luxembourg, Landesbank Baden-Württemberg, HSBC Trinkaus & Burkhardt AG, and Volksbank Neckartal.
GELITA group is a global market leader in the production of gelatin, collagen, and collagen peptides. GELITA AG is a closed corporation owned by the founding family, with a total of more than 20 production sites and sales offices. GELITA group employs more than 2,800 people worldwide.
Counsel to GELITA AG
Heuking Kühn Lüer Wojtek:
Thomas K. W. Schrell, LL.M. (Lead, Banking & Finance), Frankfurt
Anja Harms (Banking & Finance), Frankfurt