Norton Rose Fulbright advises Sparkasse Hannover and NORD/LB on financing of AVISTA OIL

Global law firm Norton Rose Fulbright has advised Sparkasse Hannover as documentation agent and coordinator and Norddeutsche Landesbank - Girozentrale - (“NORD/LB”) as facility agent and ESG coordinator on the syndicated financing of AVISTA OIL AG for EUR 180 million and USD 100 million. The debut syndicated loan is provided by a syndicate of five banks and includes both a revolving working capital facility and amortizing loans. 

The financing will be used for general corporate financing but also to finance acquisitions and the expansion of existing refineries. This provides AVISTA with a solid financial framework for future growth and consolidates the largely bilateral financing structure that has been in place to date.

The AVISTA Group, based in Uetze near Hanover, is one of the world's leading used oil regeneration companies. AVISTA processes waste oils for reuse in its own refineries at three locations in Germany, the USA and Denmark. In 2024, a total of over 500,000 tons of waste oil were processed, most of which AVISTA collected independently via the Group's own disposal companies. The company thus makes an essential contribution to conserving natural resources, avoiding waste and promoting the circular economy.

The legal team at Norton Rose Fulbright was led by Dr. Bernhard Fiedler (Banking/Finance, Frankfurt), supported by Lenka Michalko, Kristina Thielemann, Simon Weppner (Tax, Düsseldorf), Philipp Fricke (Tax, Frankfurt), and U.S.-based colleagues Stephen Castro, Kevin Prokup, and Paul Guirguis.

AVISTA OIL was advised by the Frankfurt office of Ashurst under the lead of Dr. Philipp Vorbeck.