CLAAS KGaA
CLAAS successfully closes €850 million credit line

6th October 2023

CLAAS successfully closes €850 million credit line

Harsewinkel. CLAAS has signed a €850 million revolving credit facility. The term is five years with two one-year extension options.

“The increased revolving credit facility takes into account CLAAS’ growth. Compared to the previous credit line, we were able to improve the terms. This strengthens CLAAS in the long term,” says Henner Böttcher, Chief Financial Officer of CLAAS.

Ten banks are participating in the transaction as mandated lead arrangers: BNP Paribas, Commerzbank, Deutsche Bank, DZ BANK, HSBC, Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen, Rabobank, SOCIÉTÉ GÉNÉRALE and UniCredit Bank. CLAAS was legally advised by the law firm LATHAM & WATKINS. The new transaction replaces the existing syndicated credit line of € 500 million from 2022.

The revolving credit facility is one of the standard financing instruments of the CLAAS Group and serves to secure short-term liquidity.

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About CLAAS

CLAAS (www.claas-group.com) is a family business founded in 1913 and is one of the world’s leading manufacturers of agricultural machinery. The company, headquartered in Harsewinkel, Germany, is the world market leader for forage harvesters. CLAAS dominates the European market in another core segment as well – combine harvesters – and is successfully represented around the world with tractors, agricultural balers and green crop harvesting machines. Cutting-edge agricultural information technology also forms part of its product range. CLAAS employs more than 12,000 employees worldwide and in 2022 generated a turnover of 4.9 billion euros.