Global law firm White & Case LLP has advised Tereos on its refinancing, comprising a €400 million bond issue and a €225 million revolving credit facility.
The bond issue will mature in seven years and its proceeds will be used for general corporate purposes, in particular to refinance Tereos EU's current debt maturing in September 2017. The issuance was led by BNP Paribas, Natixis and Rabobank as Global Coordinators. The bonds will be listed on Euronext Paris. The revolving credit facility, which matures in five years, will prematurely refinance lines of bank credits for Tereos UCA representing €205 million maturing in March 2018.
The cooperative group Tereos is one of the leading companies in the sugar, alcohol and starch world markets. With 49 industrial sites in 16 countries, it generated consolidated revenues of €4.2 billion during the financial year ended March 31, 2016.
The White & Case team in Paris which advised on the transaction was led by partner Thomas Le Vert with support from associates Tatiana Uskova and Arthur de la Fage. Partner Raphaël Richard, with support from counsel Julien Chameyrat and associate Stanislas Chenu, advised on bank refinancing aspects and partner Alexandre Ippolito, with support from associate Estelle Philippi, advised on tax aspects.
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