Freshfields Bruckhaus Deringer and Hengeler Mueller advised on a transaction in which chemicals giant BASF AG received a €3 billion ($3.2 billion) line of credit.

At a time when the global economic outlook is bleak due to the impact of the COVID-19 pandemic, a number of European companies, including Airbus and Adidas, have sought to shore up their liquidity by adding additional lines of credit.