Clearwater International advises Wieland-Werke AG on the €1.4bn refinancing of its bridge acquisition facility and existing syndicated loan
Clearwater International has advised Wieland-Werke AG (Wieland Group) on the structuring and arrangement of a syndicated loan totalling €1.4bn for the refinancing of its bridge financing for the acquisition of US-based Global Brass and Copper Holdings, as well as its existing syndicated loan.
The comprehensive self-arranged refinancing consists of a term loan, an RCF facility and a committed acquisition line and will be complemented by the issuance of promissory notes throughout 2020.
Preceding the refinancing process Clearwater International supported Wieland Group on the in-depth analysis process to optimally adapt the financing structure to the operative and strategic requirements as well as the future cash flow profile of the group. This comprehensive analysis process led to the dedicated mix of several financing instruments including a capital market component.
Wieland Group is headquartered in Ulm, Germany, and is one of the world’s leading manufacturers of semi-finished copper products and copper alloys, with approx. 9,000 employees. As an international group, Wieland Group possesses manufacturing facilities, slitting centres and trading companies in many European countries, as well as in the US, Singapore, China and India. Wieland Group generated sales of approximately €3.5bn in the financial year 2018/19.
Adviser to Wieland-Werke on the refinancing of its bridge acquisition facility and existing syndicated loanView more