Filtration specialist Mann & Hummel signs new €800.0M revolving credit line, replacing an existing line with original 2024 term ahead of schedule; new credit line contains sustainability component linking interest rate to ESG score, EcoVadis rating

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LUDWIGSBURG, Germany , August 10, 2022 (press release) –

With the signing of a new revolving syndicated credit line for 800 million EUR, the filtration manufacturer is replacing the existing line with an original term until 2024 ahead of schedule. 

MANN+HUMMEL has successfully closed a EUR 800 million revolving credit facility with a syndicate of nine core banks. BNP Paribas, ING and LBBW were mandated as coordinators, bookrunners and lead managers in this transaction. The credit line has a term of five years and includes two options to extend the term by one year each. Furthermore, a significant oversubscription could be achieved, despite the difficult economic environment.

For the first time, the new credit line has a sustainability component that links the interest rate to an ESG score, i.e., to environmental, social, and governance criteria. The interest margin is increased or decreased depending on MANN+HUMMEL's EcoVadis rating.

Emese Weissenbacher, Executive Vice President & Chief Financial Officer, is pleased with the very successful transaction: "The successful refinancing of our credit line demonstrates the confidence of our banks in our vision of "Leadership in Filtration" and in our ability to implement the transformation strategy. The credit line is a key component for this, as it provides us with the required financial flexibility."

MANN+HUMMEL was legally advised by Linklaters LLP.

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