White & Case advises KAP AG on €125 million early syndicated loan refinancing
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Global law firm White & Case LLP has advised KAP AG on the early extension of its existing syndicated loan from the previous €113 million to €125 million, with a further €50 million option.
KAP plans to use the new syndicated loan, which has a maximum term of six years, to further drive the future growth of the company. The new credit line of €125 million consists of an amortising loan and a revolving credit line, of which €70 million has already been drawn. The option of €50 million is intended for further acquisitions, which are subject to the approval of the financing banks. Commerzbank AG acted as facility agent.
KAP is a listed mid-sized industrial holding company that focuses on four different segments: engineered products, flexible films, surface technologies and precision components. It currently has 28 locations and approximately 2,600 employees in 12 countries.
The White & Case team which advised on the transaction was led by counsel Sascha H. Schmidt (Frankfurt) and included partners Thomas Flatten (Frankfurt), Grzegorz Abrahm (Warsaw) and Jan Linda (Prague), partner of counsel Gregory Owens (New York) and associates Laurent Hoff (Frankfurt), Klaudia Ochenkowska (Warsaw), Katerina Hudeckova (Prague) and Sophia Berger (Miami).
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