Global law firm White & Case LLP has advised the bank syndicate on the repricing of Befesa S.A.'s term loan B.
Befesa is a leading international provider of regulated environmental services to the steel and aluminium industries with facilities located in Germany, Spain, Sweden, France and the UK, as well as in Turkey and South Korea. Through its two business units, Steel Dust and Aluminium Salt Slags recycling services, Befesa manages and recycles around 1.5 million tonnes of residues annually, with a production of around 1.2 million tonnes of new materials, which Befesa reintroduces into the market, reducing the consumption of natural resources.
The repricing achieved a 50 bps reduction to the interest rate applicable to the €526 million term loan B cov-lite facility.
Citigroup Global Markets Limited acted as global coordinator for the repricing.
The White & Case team which advised on the transaction was led by partners Vanessa Schürmann and Andreas Lischka and included associates Merve Mert-Sismangil and Melanie Mueller (all Frankfurt). Lawyers from the White & Case offices in Brussels (for Luxembourg law matters) and Madrid also provided advice.
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