White & Case Advises Rubis Terminal on €410 Million Bank Financing and High Yield Bond Refinancing

Press Release
|
1 min read

Global law firm White & Case LLP has advised Rubis Terminal, a leading independent European company which specializes in the storage of fuel products, chemicals and agrifood products, on its €410 million bridge loan and subsequent refinancing via a €410 million single tranche issue of senior notes – the first issuance by a first-time issuer in Europe since the start of the coronavirus crisis. 

The transaction also included a €75 million revolving credit facility. The Notes will bear interest at an annual rate equal to 5.625 percent with a maturity in May 2025. J.P. Morgan, Crédit Agricole CIB and Société Générale acted as joint bookrunners for the bond issue.

The transaction is part of the acquisition by I-Squared Capital Advisors of a 45 percent stake in Rubis Terminal, with Rubis SCA continuing to hold the remaining 55 percent. The transaction also made it possible to refinance certain existing indebtedness of the group.

The proceeds of the bond issue will be used to fully repay the bank debt related to the equity investment.

The White & Case team in Paris which advised on the transaction was led by partners Séverin Robillard and Max Turner, and included partner Raphaël Richard with support from associates Tatiana Uskova, Alice Chavaillard, Roman Picherack, Michel Courtois and Imane Bellafqih.

Press contact
For more information please speak to your local media contact.

Top