Clifford Chance advised a banking syndicate on the financing of the acquisition of Schock Group by IK Investment Partners Fund VIII. The parties have agreed not to disclose the amount of the financing or the transaction volume.
Schock Group is a leading manufacturer of kitchen sinks made of granite and holds a world market share of approximately 21%. The company was previously owned by HQ Equita.
The Swiss listed group holding company OC Oerlikon Corporations, Pfäffikon, has successfully refinanced its credit facility by a new, unsecured syndicated revolving credit facility amounting to CHF 600 m. The facility comprises a revolving credit facility and an ancillary credit facility with a five-year term and two optional one-year extensions. The parameters of the new agreement underline the continuing financial strength of OC Oerlikon, with both the pricing and the terms and conditions in line with syndicated loan market standards for investment grade companies.
Jones Day represented Stallergenes Greer plc, a global biopharmaceutical company specializing in treatments for respiratory allergies, in connection with a new revolving credit facility provided by UBS Switzerland AG.
For additional information about this matter, please contact: Linda A. Hesse, Paul Simcock, John D. Casais
Client(s): Stallergenes Greer plc
Practice(s): Banking & Finance
Office(s): Boston, London, Paris, Cleveland
Davis Polk advised the sole lead arranger and sole bookrunner, and the administrative agent, of a committed £625 million bridge loan facility to support the proposed public-to-private acquisition of e2v technologies plc by Teledyne Technologies Incorporated, to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006. The bridge loan facility has been provided on a certain funds basis in order to satisfy certain requirements of the U.K. City Code on Takeovers and Mergers.
Gleiss Lutz advised Deutsche Beteiligungs AG (“DBAG”), a private equity company, on its holding in Dieter Braun GmbH (“Braun”). DBAG-advised DBAG Fund VI will acquire a majority interest in the automotive supplier Braun from financial investor Seafort Advisors in a management buyout. Closing is subject to antitrust approvals and expected to be completed in January 2017.
Earlier this year (June 2016), Apax Partners completed the acquisition of Marlink, a provider of tailored communications solutions. By combining Telemar and Marlink, Apax will constitute the world's leading maritime communications, digital solutions and servicing specialist for all customer segments at sea including Shipping, Offshore, Cruise & Ferry, Yachting and Fishing.
The newly combined group will generate US$450 million in revenues with more than 800 employees worldwide, serving at least one in three vessels operating globally.
White & Case LLP has advised the financial institutions on the senior secured notes offering and super senior revolving credit facility for Studio City Company Limited (SCC), 60 percent of which is held indirectly by Melco Crown Entertainment Limited, a developer, owner and operator of casino gaming and entertainment resort facilities in Asia, with the remaining 40 percent held indirectly by New Cotai, LLC.
European Spallation Source ERIC (ESS) has signed agreements regarding an in aggregate EUR 300 million line of credit with the European Investment Bank (EIB), the Nordic Investment Bank (NIB) and the Swedish Export Credit Corporation (SEK). The bridge financing enables ESS to follow its time plan for the research facility at this stage of the construction phase.
Travers Smith LLP has advised HSBC Bank plc on facilities provided to support Inflexion Private Equity’s partnership capital investment in Outdoor Plus Limited.
Outdoor Plus Limited is a leading provider of high-profile, digital advertising sites in the UK, including electronic screens at The One Piccadilly Underpass and the City of London Gateway. Inflexion’s investment will help drive the future growth of Outdoor Plus through acquisitions and capital investment.
Rick Bodhani, Associate Director at HSBC, commented:
Advising Terrena in connection with the setting-up of a syndicated loan of € 630M an Euro PP insuance of €50M.