DLA Piper has advised KAEFER Isoliertechnik GmbH & Co. Kommanditgesellschaft on a syndicated senior financing package, valued at €500 million - one of the largest corporate financing transactions carried out in Germany so far this year.

The package was arranged by a banking syndicate comprised of Deutsche Bank AG, Commerzbank Aktiengesellschaft and HSBC Trinkaus & Burkhardt AG, alongside a mezzanine financing package by two mezzanine lenders.

The financing is intended to refinance existing bilateral credit lines, particularly lines of guarantee which KAEFER Isoliertechnik and its subsidiaries had concluded in numerous countries around the world.

Founded in 1918, KAEFER Isoliertechnik is a family company headquartered in Bremen with global operations and 26,000 employees. The core business of KAEFER is insulation, access technology, surface protection, passive fire protection and interior outfitting. In its divisions of Industry, Marine & Offshore and Construction, the company generated a worldwide turnover of €1.4 billon in 2014.

The team of DLA Piper in Germany, led by Dr Wolfram Distler (partner, Finance & Projects), included Martin Heinsius (partner, Tax) Rebecca Schulz (senior associate, Finance & Projects) and Rosalie Reindl (Finance & Projects), all of whom are Frankfurt-based lawyers.

The international DLA Piper team included Finance & Projects partners Onno Bakker and Phillipa Montgomery (both Sydney), partners Johan Mouraux and Manuela Baldan (both Brussels), partner Matthew Christmas and associate Kelly Cheetham (both Manchester), partner Veronique Collin and counsel Nora Djadoun (both Paris), partners Fredrik Lindblom and Tonje Bae Kvendbo (both Oslo), partner Christoph Urbanek and counsel Stephan Eberhardt (both Vienna), senior associate Pawel Turek and associate Daniel Smarduch (both Warsaw), partner Jesus Zapata and senior associate José Marco (both Madrid) as well as partner Roberto Barros and associate Fabiana Penacchi Marcondes (both Sao Paolo, Campos Mello Advogados).