White & Case advises underwriters on Knorr-Bremse AG's €1.1 billion bond issuance

Global law firm White & Case LLP has advised a consortium of banks including Deutsche Bank Aktiengesellschaft, BNP PARIBAS, HSBC Continental Europe, UniCredit Bank GmbH, Commerzbank Aktiengesellschaft and Landesbank Baden-Württemberg on the issuance of two tranches of fixed rate notes of Knorr-Bremse Aktiengesellschaft with an aggregate principal amount of €1.1 billion.

The first tranche has a principal amount of €600 million, a five-year term and a fixed interest rate of 3.000% per annum. Knorr-Bremse Aktiengesellschaft intends to use the net proceeds for general corporate purposes.

The second tranche, issued as green bonds, has a principal amount of €500 million, an eight-year term and a fixed interest rate of 3.250% per annum. Knorr-Bremse Aktiengesellschaft intends to allocate an amount equivalent to the net proceeds of the notes to the green eligible projects described in its Green Financing Framework.

The notes of both tranches were admitted to trading on the regulated market of the Luxembourg Stock Exchange.

The White & Case team in Frankfurt which advised on the transaction was led by partner Karsten Wöckener and included local partner Peter Becker and associate Domenik Mack.

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