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Latham & Watkins Advises Porsche on €2.5 Billion Sustainability-Linked Syndicated Financing

June 29, 2023
Finance team represents automotive group on its first syndicated financing after IPO.

Latham & Watkins has advised Dr. Ing. h.c. F. Porsche Aktiengesellschaft (Porsche) on a sustainability-linked syndicated loan agreement. The revolving credit facility has a total committed volume of €2.5 billion and is provided by an international consortium of banks from Europe, Asia, and America. An integrated sustainability component links the financing conditions to the development of the share of purely electric vehicles delivered in total sales. The initial term is five years and can be extended twice by one year each time.

Barclays, BNP Paribas, Deutsche Bank, and LBBW acted as coordinators.

The Latham team was led by Frankfurt partners Sibylle Münch and Alexandra Hagelüken, with associate Anastasia Dressler. Advice was also provided on tax matters by Munich partner Ulf Kieker.