Freshfields Bruckhaus Deringer (‘Freshfields’) has advised global leading fintech SumUp on its €1.5 billion private credit loan - one of the largest European private credit deals of its kind in recent years.

SumUp is a London-based payment solutions and point of sale systems provider, with over four million businesses in 36 markets worldwide currently using its services. Its products and services include card readers, point of sale systems and payment services software. The €1.5 billion loan will be used to refinance existing debt and give SumUp firepower to continue its global expansion. The new SumUp investors are AllianceBernstein, Apollo Global Management, Arini, Deutsche Bank AG, Fortress Investment Group, SilverRock Financial Services, and Vista Credit Partners. They join existing investors such as funds managed by BlackRock, Crestline Investors, Liquidity Capital, Oaktree Capital Management, Sentinel Dome and Temasek, with Goldman Sachs leading the private credit debt deal.

The Freshfields team for the transaction included Partner Carol Van der Vorst (Finance, London), Principal Associate Christina Banz (Finance, London) and Associate Pete Benson (Finance, London) as well as Partners Lars Meyer (M&A, Frankfurt/Berlin), Michael Josenhans (Finance, Frankfurt), Kyle Lakin (Finance, New York) and Thomas Clark (Dispute Resolution, London), Senior Associates Kelsey Avery (Finance, New York) and Oliver Hamill (Dispute Resolution, London), Associates Allison Caramico (Finance, New York), Lucas Lengersdorf (Finance, Frankfurt) and Matthis Grenzer (Finance, Frankfurt).