Case Studies

€ 200 million syndicated loan for H&R GmbH & Co. KGaA

Since 1919, the name Hansen & Rosenthal has been a byword for the highest quality in specialty chemicals as well as in the development and manufacture of crude oil-based chemical and pharmaceutical specialty products. The secret of its success has always been its strong customer focus and systematic approach to enhancing the brands and products.

Since 1919, the name Hansen & Rosenthal has been a byword for the highest quality in specialty chemicals as well as in the development and manufacture of crude oil-based chemical and pharmaceutical specialty products. The secret of its success has always been its strong customer focus and systematic approach to enhancing the brands and products.

Since 1919, the name Hansen & Rosenthal has been a byword for the highest quality in specialty chemicals as well as in the development and manufacture of crude oil-based chemical and pharmaceutical specialty products. The secret of its success has always been its strong customer focus and systematic approach to enhancing the brands and products.

Within the scope of this transaction, NORD/LB performed the function of the coordinating mandated lead arranger and bookrunner and also acted as the documentation agent.

First €70 million promissory-note-driven housing-construction transaction complete

Wohnungsbaugesellschaft Magdeburg (WOBAU) is the largest landlord of residential and commercial space not only in the regional capital of Magdeburg, but also the whole of Saxony-Anhalt. As a municipal company, WOBAU’s remit is to provide socially adequate residential space for a large part of the population through construction and real-estate activity.

In 2016, the company turned over €100.4 million and generated an EBITDA of €38 million. The promissory note is to enable refinancing and investment finance for the design of the cathedral quarter in Magdeburg.
Because of its longstanding business relationship and after an intensive phase of corporate finance consultancy, NORD/LB secured the mandate as sole arranger for placement of the first WOBAU promissory note transaction. Given its municipal background (the sole shareholder in WOBAU is the city of Magdeburg), Stadtsparkasse Magdeburg was involved in this transaction as “premium partner”, although it is only acting as an investor. NORD/LB is participating with a contribution of €3 million incl. yield-enhancing refinancing (Lettre de Gage) via NORD/LB Luxembourg S.A. Covered Band Bank.

Duravit Group - off-balance sheet solution

A low-cost and liquidity-preserving financing structure, which was tailored to DURAlog Duravit Logistik GmbH, combines need-based leasing with funds from the Kreditanstalt für Wiederaufbau (Reconstruction Loan Corporation).

In the industry, the Duravit Group is considered one of the leading providers in matters related to bathroom design and covers the entire area of bathroom furnishing with sanitary ware, bathroom furniture, accessories, bathtubs/sinks and wellness ideas. Duravit operates 27 investment companies around the world and is present in over 90 countries. The increase in sales within the Duravit Group led to a need for optimisation and expansion in the existing logistics capacity for the 100% logistics subsidiary DURAlog Logistik GmbH (in short: DURAlog). DURAlog is responsible for the execution of services in the area of logistics and transport and operates a central storage facility in Aachen. The planned expansion of the logistics capacity was supposed to be handled through the construction of a fully automated high bay warehouse on land already owned by the Duravit Group.

In collaboration with the leasing subsidiary LHI Leasing GmbH and in close coordination with the Duravit Group, NORD/LB structured a need-based, off-balance sheet financing solution for the construction of the high bay warehouse. We implemented the project with an investment sum in the double-digit million range through build-and-lease-back financing with the inclusion of funds from the Kreditanstalt für Wiederaufbau (Reconstruction Loan Corporation). The combination of both financing alternatives made it possible to provide low-cost and liquidity-protecting financing for the Duravit Group.

Products and Services

Please choose a product group:

Please choose a product:

Please choose a product:

Please choose a product:

Please choose a product:

Please choose a product: