PHH has advised the MM Group on a EUR 65 million syndicated loan for the reconstruction of the cardboard machine at its Neuss site. Noerr's Frankfurt office reportedly advised IKB Deutsche Industriebank AG on the deal.
The MM Group is a cardboard, paper, and folding carton manufacturer.
According to PHH, “the syndicated loan, certified as sustainable under the Green Loan Framework, is based on the strict rules of IKB Deutsche Industriebank AG and Kreditanstalt fur Wiederaufbau. The decisive factor for the certification was the sustainable investment at the Neuss site for the rebuild of the board machine. This is the first financing in the MM Group classified as green.”
According to PHH, on the MM Group side, the transaction was led by Head of Corporate Treasury Gernot Bauer, Manager Financial Exposure Martin Cvejkus, and Head of Group Legal Elvira Schmid.
PHH’s team was led by Partner Wolfram Huber and included Lawyer Lisa Urbas.