Shearman & Sterling represented adidas AG on its new €500 million revolving credit facility. The new facility was put in place as the existing €2 billion revolving credit facility expires this year.
The new facility has a term of five years and incorporates two one-year extension options, ensuring adidas group’s financial flexibility and long-term cost-effective financing.
Bayerische Landesbank, HSBC Bank plc and Mizuho Corporate Bank Ltd. have acted as coordinators, and, together with Citigroup Global Markets Ltd., Deutsche Bank AG, Standard Chartered Bank, The Bank of Tokyo-Mitsubishi UFJ Ltd., JP Morgan Ltd., Bank of America Securities Ltd. and UniCredit Bank AG, as bookrunners.
adidas AG is one of the global leaders within the sporting goods industry, offering a broad range of products. Headquartered in Herzogenaurach, Germany, adidas group has more than 46,000 employees and generated sales of over €13.3 billion in 2011.
The Shearman & Sterling team was led by partner Dr. Esther Jansen(Frankfurt-Finance) and included partner Dr. Johannes Frey (Munich-Tax).
