Latham & Watkins Advises Syndicate of Banks on €2 Billion Credit Facility for Fresenius Medical Care

Latham & Watkins LLP has advised the syndicate of 34 core banks on a €2 billion syndicated revolving credit facility for Fresenius Medical Care. The new credit facility replaces the previous US$900 million and €600 million revolving credit facilities originally signed in 2012 and amended several times. The new credit facility has a five-year term plus two one-year extension options (5+1+1 years) and can be drawn in various currencies. 

A sustainability component included in the credit line links the financing conditions to the company's commitment to ecological, social, and economic value creation. Accordingly, the margin on the revolving credit facility will increase or decrease depending on the company's sustainability performance. 

Fresenius Medical Care, the world's leading provider of products and services for people with kidney disease, serves more than 349,000 dialysis patients through a network of approximately 4,000 dialysis centres in North America, Europe, Latin America, Asia, and Africa. Fresenius Medical Care is also the world's leading provider of dialysis products - dialysis machines, filters and related disposables. 

The Latham team was led by Frankfurt partner Sibylle Münch with Chicago partner Vik Puri, Frankfurt associate Martina Eisgruber and Munich associate Philipp Guggeis. Advice was also provided on tax matters by Frankfurt counsel Ulf Kieker, New York partner Bora Bozkurt and associate Aaron Bernstein; and on finance matters by Frankfurt legal analyst Dilek Bektas.