Rheinmetall €1.5bn club deal for the NVL acquisition
Refinance the acquisition of Naval Vessels Lürssen (NVL)
Key terms
- Borrower or issuer
- Rheinmetall
- Date
- Jan 2026
- Type
- Acquisition finance
- Amount
- €1.5bn (US$1.7bn)
- Maturity
- 2027
Recorded terms
- Structure
- Club deal bridge facility with a term of up to twelve months; €1,000m drawn on 4 March 2026
- Lenders and arrangers
- Commerzbank and UniCredit, coordinating bookrunners; Crédit Agricole, Deutsche Bank and Société Générale, bookrunners
- Country
- Germany
Parties
- Rheinmetall borrower or issuer
- Lenders: Deutsche Bank, Credit Agricole CIB, Societe Generale, Commerzbank, UniCredit
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 26 Aug 2026 | Karman Space & Defense US$100m incremental term loan for Walker Precision | Acquisition finance | US$100m |
| 9 Mar 2026 | CACI International US$800m incremental term B-2 loans for the ARKA acquisition | Acquisition finance | US$800m |
| 1 May 2025 | AeroVironment US$700m term loan A for the BlueHalo acquisition | Acquisition finance | US$700m |
| 2 Feb 2025 | Triumph Group US$1.75bn take-private debt financing (Warburg Pincus and Berkshire Partners) | Acquisition finance | US$1.75bn |
| 30 Oct 2024 | CACI International US$750m term loan B for the Azure Summit acquisition | Acquisition finance | US$750m |
More from Rheinmetall
| Date | Financing | Type | Amount |
|---|---|---|---|
| 8 Oct 2026 | Rheinmetall €1.5bn syndicated revolving credit facility | Bank facility | €1.5bn |
| 28 May 2026 | Rheinmetall €500m senior bond due 2031 | Bond | €500m |
| 31 Jan 2023 | Rheinmetall €1bn convertible bonds (2028 and 2030 series) | Convertible | €1bn |
| 24 Sep 2021 | Rheinmetall €500m syndicated revolving credit facility | Bank facility | €500m |
M&A and investment involving Rheinmetall
| Date | Deal | Type | Value |
|---|---|---|---|
| 1 Mar 2026 | Rheinmetall acquisition of NVL (Naval Vessels Lürssen) | M&A | Not disclosed |
| 29 Nov 2024 | Rheinmetall acquisition of Loc Performance Products | M&A | US$950m |
| 15 Oct 2024 | Leonardo Rheinmetall Military Vehicles joint venture | JV / capital partnership Announced | Not disclosed |
| 1 Aug 2023 | Rheinmetall acquisition of Expal Systems | M&A | €1.2bn |
Sources
- Rheinmetall Half-Yearly Financial Report 2026 rheinmetall.com · 6 Aug 2026
- Börsen-Zeitung: Rheinmetall stockt syndizierten Kredit auf boersen-zeitung.de · 8 Oct 2026
About this record
Record DEF-2026-0037, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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
Acquisition debt is committed before signing, often as a bridge, and refinanced with bonds or term loans once the deal closes.
