In the recent refinancing of senior secured credit facilities for subsidiaries of Atotech Ltd. (“Atotech”) (NYSE: ATC), Milbank LLP represented Goldman Sachs, as administrative agent, collateral agent and lead arranger, and JPMorgan, Credit Suisse, Barclays, Citibank, UniCredit, Deutsche Bank, HSBC and Standard Chartered Bank as joint bookrunners.
The large, complex cross-border refinancing spanned eight collateral jurisdictions and 16 jurisdictions in total. It was completed with a $1.35 billion US dollar-denominated term loan facility, a €200 million Euro-denominated term loan facility and a $250 million multi-currency revolving credit facility to refinance in full all indebtedness outstanding under Atotech’s existing credit facilities. The new financing followed on the heels of the recently completed Atotech IPO, on which Milbank represented the lead underwriters.
Headquartered in Berlin, Germany, with manufacturing operations across Europe, Americas and Asia, Atotech is a leading specialty chemicals technology company and a market leader in advanced electroplating solutions. Atotech delivers chemistry, equipment, software and services for innovative technology applications through an integrated systems-and-solutions approach. Atotech solutions are used in a wide variety of end-markets, including smartphones and other consumer electronics, communications infrastructure and computing, as well as in numerous industrial and consumer applications such as automotive, heavy machinery and household appliances.
The Global Leveraged Finance team was led by New York-based partners Marcus Dougherty and Benjamin Sayagh with associates George Zhang, Eliza Biswas and Sandhya Ramaswamy.
