Clearwater International advises Wieland-Werke on the €310m issuance of mid and long-term promissory notes
Clearwater International has advised Wieland-Werke AG (Wieland) on its issuance of promissory notes for the refinancing of its bridge loan for the acquisition of US-based Global Brass and Copper Holdings.
The promissory notes with terms of up to 10 years will complement the syndicated loan financing closed in February 2020. With this transaction the refinancing process for the acquisition facility in the context of the Global Brass and Copper Holdings acquisition back in 2019 is completed. The new financing structure has a balanced maturity profile and allows Wieland to pursue its operational and strategic goals in the coming years.
Wieland Group is headquartered in Ulm, Germany, and is one of the world’s leading manufacturers of semi-finished products in copper and copper alloys, with approx. 9,000 employees. As an international group, Wieland Group possesses manufacturing facilities, slitting centres and trading companies across Europe, as well as in the US, South Africa, Singapore, China and India. Wieland Group generated sales of approximately €3.5bn in the financial year 2018/19.