JOST Werke AG ("JOST"), a leading global producer and supplier of safety-critical systems for the commercial vehicle industry, has successfully placed its first ESG-linked promissory note loans (Schuldscheindarlehen). The new promissory note loans with a total placement volume of EUR 130 million have maturities of three, five and seven years. The interest rate is additionally linked to the achievement of ESG targets for CO2 reduction and for increasing the proportion of women in management positions. The proceeds of the issue will be used to refinance existing loans and to repay drawn down credit lines.
Hengeler Mueller advised JOST on the transaction. The team included partner Nikolaus Vieten and associate Mathias Menzel (both Financing, Frankfurt).