Syndicated loan
One of the first instruments CLAAS entered the international capital markets with, was a syndicated credit facility (syndicated loan) in 1997. This first facility with a volume of DM 200 million was subsequently replaced by a new instrument with a volume of €250 million and an initial maturity of 5 years in 2005.
In July 2007, shortly before a significant increase in risk premiums on the international capital markets, CLAAS was able to extend the syndicated loan at the same conditions for a further 4 years through to July 2014.
The instrument was renewed and extended in April 2014. Within the framework of the syndicated loan, eight international banks provided the company with a credit line of €300 million at defined terms and conditions.
Following the prolongation of the syndicated loan in June 2018 and the expansion of the syndicate to nine banks, the instrument was last contractually adjusted in April 2022. As a result, the syndicate banks are now providing CLAAS with a credit line totalling €500 million. The current maturity date of the instrument is 13.06.2025.
