Adidas signs €1.5bn syndicated loan, replaces KfW facility

Region:

Europe

Adidas has secured a new €1.5 billion syndicated loan, having replaced the syndicated revolving facility under participation of German development bank KfW.

The new loan will run until 2025 with a syndicate of partner banks including Deutsche Bank and HSBC as Joint Coordinators and, together with Bank of America, BBVA, BNP Paribas, Citigroup, Commerzbank, DZ Bank, J.P. Morgan, Mizuho, Standard Chartered Bank and UniCredit Bank, as Bookrunners and Mandated Lead Arrangers.

Germany-based adidas had received the approval of the German government for the participation of KfW in a €3 billion syndicated loan earlier this year to bridge the unprecedented situation caused by the global coronavirus pandemic. The company said it had paid back the €500 million portion drawn in July already in October, including interest and fees.

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