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Milbank LLP advised Strategic Value Partners in relation to the recapitalization and refinancing by Schoeller Allibert Group of its €250 million senior secured notes due November 2024. The transaction included the provision of a new €125 million five-year senior secured term loan from Strategic Value Partners, combined with a new €154 million equity investment from its shareholders and a 4.5 year extension of the group’s existing super senior revolving credit facility. The proceeds from the new equity investment and the new term loan from Strategic Value Partners have been used to refinance the group’s €250 million senior secured notes due November 2024 and provide additional capital to the group for general corporate and strategic purposes.
Schoeller Allibert is a Brookfield portfolio company and a European market leader of returnable industrial plastic packaging solutions.
The Milbank team was led by partners Sinjini Saha, Laura Bonamis, Suhrud Mehta and Kate Colman, special counsel Tristram Gargent and Alan Rafferty, and associates Ollie Winters, Christopher Smith, Manpreet Khehra, Ryan Al-Hakim, Isabel Langlois, Jade Du Berry and Venandah Madanhi.
