German team advises expert SE on reorganisation of group financing

Global law firm Norton Rose Fulbright has advised expert SE on the reorganisation of its group financing. The debut syndicated loan includes amortising loans, a revolving working capital facility and a revolving seasonal credit facility.

The syndicated loan is being provided by a consortium of eight banks led by Norddeutsche Landesbank Girozentrale (NORD/LB) and will be used in particular to refinance existing financial liabilities and to acquire stakes in companies. Herter & Co acted as sole debt advisor for the transaction.

expert SE, headquartered in Hanover-Langenhangen, is the third largest electronics retailer in Germany after Amazon and ceconomy, with over 390 locations, more than 14,000 employees throughout Germany and consolidated sales of around two billion euros.

expert was advised by a Norton Rose Fulbright team led by Frankfurt partner Dr. Bernhard Fiedler (Banking/Finance). In addition, Annemary Ceselj (Counsel), Julia Tschickardt (Associate), Kristina Thielemann (Associate) and Fabienne Pollmeier (Research Assistant) (all Banking/Finance, Frankfurt) advised on the transaction.

"We are delighted with the outstanding cooperation and excellent advice from Bernhard Fiedler and Norton Rose Fulbright. The refinancing is an important milestone for expert and enables us to further drive our strategic growth," says Michael Grandin, CFO of the expert Group.

The banking consortium was advised by a team from Gleiss Lutz. The team consisted of Dr Eva Reudelhuber, Dr Julia Badus, Pascal Urban, Cora Seelmann and Dr Dominik Monz.