Allen & Overy LLP has advised Würzburg-based printing press manufacturer Koenig & Bauer AG ("Koenig & Bauer") in connection with a syndicated credit financing in a total amount of EUR 350 million. The financing included a EUR 150 million revolving credit facility and a EUR 200 million letter of credit facility.

The facilities have a term of five years with extension options of up to two years. This is the first transaction in the syndicated credit market for Koenig & Bauer.

The banking syndicate financing the transaction was led and arranged by UniCredit Bank AG and Commerzbank Aktiengesellschaft.

The Allen & Overy team comprised partner Thomas Neubaum, counsel Dr. Mark Hallett and associate Louisa Drewniok (all Banking and Finance, Frankfurt).

The inhouse team was led by Dr. Torsten Bolz (legal counsel at Koenig & Bauer). The arranging banks were advised by Ashurst LLP; the team was led by partner Bernd Egbers and counsel Carsten Endres.