Syndicated Financing for Rieter

Rieter, the world's leading supplier of systems for manufacturing yarn from staple fibers in spinning mills, closed a CHF 750 million syndicated financing, arranged by UBS Switzerland and Zürcher Kantonalbank and with a group of international and Swiss financial institutions in the syndicate.

The financing forms part of the long-term debt financing of the Rieter Group, including its pending acquisition of Barmag from OC Oerlikon (which acquisition is subject to customary closing conditions).

Lenz & Staehelin acted as lead counsel to Rieter, with Clifford Chance acting on German and Czech law aspects. Advestra acted for the lenders, with Gleiss Lutz acting on German law aspects and Kinstellar on Czech law aspects.

The Lenz & Staehelin team consisted of Marcel Tranchet, Sven Infanger and Niklaus Schmid.