Global law firm Dentons has advised UniCredit as documentation agent, bookrunner, arranger, agent and sustainability coordinator on a €300 million ESG-linked credit facility for Mercer Germany Group. Commerzbank and Landesbank Baden-Württemberg were also involved as lead arrangers with an international lender consortium comprising Barclays Ireland, Credit Suisse and Royal Bank of Canada. The company will use the funds for the partial financing of the acquisition of the German company Wood Holdco, for investments linked to ESG objectives, and for general corporate purposes.
Mercer International Inc., based in Canada, is one of the world’s largest producers of market pulp for the paper industry and a leading company in the forest industry. With the acquisition of one of Germany’s largest sawmills near Friesau in 2017, the company has entered the softwood lumber sector with Mercer Timber Products.
Led by Dr. Axel Schlieter, Dentons advised UniCredit comprehensively on the financing transaction. Schlieter and his team regularly advise lenders and borrowers on ESG-related credit facilities, often with a focus on renewable and sustainable finance subjects.
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