Hogan Lovells Advises Banks on the Establishment of a Commercial Paper Programme of Jungheinrich AG

Led by Partner Dr. Jochen Seitz the Frankfurt capital markets team of the international law firm Hogan Lovells advised Commerzbank Aktiengesellschaft (arranger), Bayerische Landesbank, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main and BNP Paribas on the establishment of a 300 million euro Commercial Paper Programme of Jungheinrich AG (Jungheinrich). Commerzbank Aktiengesellschaft is also acting as paying agent.

Commercial papers constitute money market instruments with a maturity of up to 364 days that are tradeable as bearer bonds. The programme has a STEP label (Short-Term European Paper), which is relevant for the ECB eligibility of the securities issued. STEP is an initiative of the European Money Markets Institute (EMMI) that sets market standards and has established STEP as a seal of quality.

As one of the world’s leading providers for intralogistics solutions, Jungheinrich has been advancing the development of innovative and sustainable products and solutions for material flows. As a pioneer in the sector, the Hamburg-based family business is committed to creating the warehouse of the future.

With the establishment of its first Commercial Paper Programme, Jungheinrich expanded the group’s options for raising funds via the capital market independently of banks and successfully broadened its financial scope of action. The issuance of commercial paper serves Jungheinrich as an additional option to its existing short-term financing instruments. For further information, please see the Jungheinrich press release.

Hogan Lovells for the banks:

Dr. Jochen Seitz (Partner), Dr. Stefan Schrewe (Senior Associate), Kira Kuhnert (Foreign Associate) (all Capital Markets).

Commerzbank Inhouse Team:

Heike Hauser, Dr. Mauricio Hartwig-Jakob

Jungheinrich Inhouse Team:

Dr. Martin Riedl (Legal), Grit Herling, Lars Kopper (Treasury)