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Hengeler says it is shifting its workforce from M&A work to corporate finance, as its financing practice is a “house on fire” amid the Covid-19 pandemic.
March 26, 2020 at 04:47 PM
1 minute read
Hengeler Mueller and Latham & Watkins had lead roles advising on a €2.5 billion ($2.7 billion) line of credit obtained by Covestro, the German chemicals company that spun off from Bayer.
Covestro said in a statement that it had signed a contract with its 16 core banks for a new syndicated revolving credit facility for €2.5 billion with a term of five years plus two one-year extension options, effective March 17. The facility will be used as a standby backup liquidity reserve.
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