The Banking & Finance team from Osborne Clarke in the Netherlands has advised ABN AMRO Bank (MLA and coordinator), Deutsche Bank (MLA) and Rabobank (MLA) in respect of the refinancing of Lely Holding. Lely is a worldwide market leader in providing the agriculture sector with innovative solutions and tailored management services.
Head of Banking & Finance Axel van der Staak said: "We are very proud to have advised the lenders in this LMA debut financing of Lely. Against the backdrop of the unfolding COVID-19 crisis, the determination by both Lely and banks to close this transaction was clearly palatable and showed a positive drive towards a successful completion. The financing arrangements allow Lely the opportunity to grow its business in emerging markets once the Corona pandemic has been weathered. Additionally, a framework has been designed to measure performance against key performance indicators relating to sustainable entrepreneurship."
Osborne Clarke in the Netherlands specialises in mid-market transactions. Its banking & finance practice is active in corporate financings, real estate and leveraged transactions as well as restructuring.