TOUAX has announced it had refinanced a €67.5 million credit facility. After refinancing a €55 million facility for asset financing in the first half of 2015, and issuing €23 million in ORNANE-style bonds (redeemable in cash or shares) in early July, TOUAX has now announced it has refinanced a €67.5 million credit facility.

The financing matures in 2019, and is made up of a revolving facility and an term loan.

The lenders are Bank of China Limited, Banque Européenne du Crédit Mutuel, BNP Paribas, BRED Banque Populaire, Crédit du Nord, Crédit Industriel et Commercial, Crédit Lyonnais, KBC Bank N.V., Succursale Francaise, and Société Générale.

Herbert Smith Freehills Paris advised the lenders, including Société Générale as documentation agent. The team from Herbert Smith Freehills was made up of Laure Bonin (Of Counsel) and Foucauld Prache (associate).

As borrower, TOUAX was advised by Latham & Watkins.