Hensoldt €950m senior facilities at the IPO (2020)
Refinance the €920m pre-IPO term loan as part of the September 2020 IPO
Key terms
- Borrower or issuer
- Hensoldt
- Date
- 30 Sep 2020
- Type
- Bank facility
- Amount
- €950m (US$1.1bn)
- Pricing
- Term loan 3M Euribor + 2.25%; RCF 3M Euribor + 2.00%
- Maturity
- 2025-09-29
Recorded terms
- Structure
- New syndicated Senior Facility Agreement: €600m term loan and €350m revolving credit facility, both due 29 September 2025, secured by pledges over shares in the main operating subsidiaries; RCF fully drawn at year-end 2020
- Country
- Germany
Parties
- Hensoldt borrower or issuer
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 1 Apr 2020 | Textron US$500m 364-day term loan (2020) | Bank facility | US$500m |
| 26 Mar 2020 | Saab SEK 4bn revolving credit facility (2020) | Bank facility | SEK 4bn |
| 12 Feb 2020 | Leidos US$1.0bn delayed-draw term loan for the L3Harris security detection acquisition | Bank facility | US$1bn |
| 7 Feb 2020 | KBR US$1.795bn senior secured credit facilities refinancing | Bank facility | US$1.79bn |
| 17 Jan 2020 | Leidos US$2.68bn unsecured term loan A and revolver (2020) | Bank facility | US$2.67bn |
More from Hensoldt
| Date | Financing | Type | Amount |
|---|---|---|---|
| 21 Jul 2025 | Hensoldt €300m Schuldschein loan | Bank facility | €300m |
| 14 Apr 2025 | Hensoldt €1.8bn unsecured syndicated loan refinancing | Bank facility | €1.8bn |
| 5 Dec 2023 | Hensoldt acquisition financing for ESG | Acquisition finance | €675m |
| 28 Feb 2017 | Hensoldt €920m term loan (2017-2018) | Bank facility | €920m |
M&A and investment involving Hensoldt
| Date | Deal | Type | Value |
|---|---|---|---|
| 2 Apr 2024 | Hensoldt acquisition of ESG Elektroniksystem- und Logistik | M&A | €675m |
| 7 Dec 2023 | Hensoldt €241m accelerated bookbuild capital increase | Equity raise | €241m |
| 3 Jan 2022 | Leonardo acquisition of 25.1% of Hensoldt from KKR | Stake sale | €606m |
| 25 Sep 2020 | Hensoldt IPO on the Frankfurt Stock Exchange | IPO | €300m |
Sources
- Hensoldt Annual Report 2020: notes to the consolidated financial statements (loans) irpages2.eqs.com · 22 Mar 2021
About this record
Record DEF-2020-0031, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
