Milbank LLP has advised SPCM SA (as "Issuer"), the holding company for SNF Group, in connection with its issuance of €350 million 2.000% Senior Notes due 2026 and €350 million 2.625% Senior Notes due 2029.
SNF Group is the world’s largest producer by revenue and volume of polyacrylamide (PAM), a water soluble specialty chemical used in water treatment, oil and gas applications, mineral extraction, pulp and paper manufacturing and other industries.
Proceeds from the new issuance, together with cash on balance sheet, were used to redeem the Issuer's existing €550 million Senior Notes due 2023 and to repay the amounts outstanding under its senior revolving credit facility in full.
BNP Paribas and Crédit Agricole CIB acted as Joint Bookrunners, and BofA Securities, Natixis and Société Générale were Co-Managers.
The Milbank team was led by European Leveraged Finance/Capital Markets partner Tim Peterson, with associates Varun Natteri Mangadu and Ignacio Perez Bessio. The team also included New York Tax associate Benjamin Heller.
