Carlyle launches sustainable loan for Siemens gearing carve-out

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By Owen Sanderson
07 Jan 2021

Bank of America, Deutsche Bank and UniCredit have launched the buyout funding for Carlyle’s €2bn purchase of Flender, a company making wind turbine gearing, from Siemens. On offer is a €1.045bn term loan 'B' in sustainable format, plus a €150m revolver and €125m guarantee facility.

Carlyle agreed the purchase at the end of October, beating competitors including Brookfield to the asset, which is part of Siemens’ longer term effort to simplify the business and spinoffsome of its divisions.

RBC, Commerzbank and Goldman are lead arrangers and passive bookrunners, ...

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