S&C Advises Banks in Daimler Truck Listing and $6 Billion Yankee Bond Offering

December 10, 2021

Daimler Truck Holding AG, which was recently spun off from Daimler AG, successfully went public on the Frankfurt Stock Exchange on December 10. In connection with the spin-off, the the Daimler Truck group also raised $6 billion (approximately €5.3 billion) through a yankee bond offering.

The world's largest commercial vehicle manufacturer with a global reach, the Daimler Truck group plans to direct the majority of its R&D spending to zero-emission vehicle technologies by 2025, focusing on both battery electric vehicles and hydrogen-based fuel cell electric vehicles. Among others, it has set a goal of establishing a network of 150 hydrogen refueling stations and 5,000 heavy-duty hydrogen trucks by 2030.

The listing agents and financial advisors for the listing were led by BNP PARIBAS, Citi and Goldman Sachs. The joint book-running managers for the bond offering were led by BNP PARIBAS, Citigroup, Deutsche Bank and J.P. Morgan.

The Frankfurt-based S&C team that advised the banks on both the listing and the bond offering is led by Krystian Czerniecki and Carsten Berrar and includes Max Birke, Sophie Moeder, Wolfram von Frankenberg, Alex Koch and Zin Nakam.