Sixt redeems loan concluded with KfW participation
German car rental company Sixt has signed a long-term syndicated loan for €750 million.
The new revolving credit line replaces the previously unused syndicated loan concluded at the beginning of May 2020 with the participation of KfW. This credit facility had already been significantly reduced in advance following the successful bond issue in December 2020 and through other reductions.
Commerzbank Aktiengesellschaft, DZ BANK AG, Deutsche Zentral-Genossenschaftsbank and UniCredit Bank AG are the lead arrangers and bookrunners of the credit line. Other lead arrangers and lenders are Crédit Agricole Corporate and Investment Bank, Deutsche Bank and SEB Deutschland. UniCredit Bank AG is the agent.
The term of the new revolving credit facility is three years and can be extended twice by one year each, so that the maximum term comprises five years. The credit facility can be drawn in various currencies.
