Clearwater International has advised Viessmann Group GmbH & Co. KG (Viessmann) on the refinancing of the existing syndicated loan agreement. As one of the market-leading HVAC experts in Europe, Viessmann is at the forefront of the ongoing energy transition, significantly investing in the production of heat pumps and related systems/services, such as installation. Their strong focus on sustainability was reflected in the credit documentation, with very ambitious ESG targets which have been reflected as margin relevant KPIs.
Founded in 1917, Viessmann is a family-owned company with headquarters in Allendorf (Eder), Germany, which develops and manufactures heating technology products, as well as air conditioning and cooling systems. As of 2021, they employ over 13,400 people across five countries. Viessmann is represented worldwide by 22 production companies in 12 countries, 68 sales companies in 31 countries, plus 120 sales offices.
„Clearwater International was a very valuable support for us in this project with a professional team, competent advice, and a well-structured process.“ – Dr. Ulrich Hüllmann, CFO and Member of the Executive Board, Viessmann Group
„We are pleased to have supported Viessmann in the arrangement of the refinancing providing the financial flexibility for the upcoming investments related to the energy transition. The terms of the financing clearly evidence Viessmann’s superior credit quality and the debt capital markets’ very positive assessment of Viessmann as a beneficiary of the accelerated energy transition.“ – Dr. Heinrich Kerstien, Managing Partner, Clearwater International