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The deal attracted strong support from new and existing banks and was subsequently increased from a launch amount of €400 million.
Under a forward-start agreement, lenders agree to extend existing loans at final maturity in return for increased fees and margins.
The forward-start to Hella, the first for a German company, extends the company’s existing 650 million euro financing by two years, when it matures in August 2010.
The deal, which was not underwritten, was led by bookrunners and mandated lead arrangers Deutsche Bank, Dresdner Kleinwort and Royal Bank of Scotland, together with mandated lead arranger HSBC Trinkaus & Burkhardt.
Hella ranks 30th on the Automotive News Europe list of top 100 global suppliers with 2008 sales of more than €4bn.
