Global law firm White & Case LLP has advised a bank syndicate on the amendment of the existing senior secured credit lines provided to Pfleiderer Group S.A. and PCF GmbH (Pfleiderer Group).
Goldman Sachs Bank USA acted as lead arranger and bookrunner, Deutsche Bank Luxembourg S.A. acted as facility agent, and Wilmington Trust (London) Limited acted as a security agent.
The total amount of Senior Secured Loan B was increased from €350 million to €445 million, with the additional amount of up to €95 million being used for the implementation of the planned share buyback programme, and to cover the associated transaction costs. In addition, the pricing of the credit facilities was adjusted.
Listed on the Warsaw Stock Exchange, Pfleiderer Group is a leading wood panel manufacturer in Europe with annual sales of approximately €1 billion and around 3,600 employees. It operates nine production sites in Germany and Poland as well as sales branches in England, the Netherlands, Switzerland, Austria, Romania and France.
The White & Case team in Frankfurt which advised on the transaction was led by partner Vanessa Schuermann and included local partners Sébastien Seele and Florian Ziegler and associates Daniel Hobbs and Daniel Rogits.
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