The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised KAEFER Isoliertechnik GmbH & Co. Kommanditgesellschaft ("KAEFER") on a new comprehensive group financing, comprising a Reg S/Rule 144A high yield bond of 250 million and a super senior revolving credit and multicurrency revolving letter of guarantee facility of € 480 million. Both instruments are governed by German law and secured by guarantees and collateral of the issuer and its subsidiaries. The new bank/bond refinancing replaces, inter alia, an existing syndicated facilities agreement, a mezzanine facilities agreement and various promissory notes issuances. This is the first bond issuance of KAEFER.
Celebrating its 100th anniversary in 2018, KAEFER is a leading global provider of insulation, access solutions, surface protection and passive fire protection services. More than 27,000 employees service industrial clients in over 30 countries.
A Milbank team led by Frankfurt Banking & Leveraged Finance partner Thomas Ingenhoven and Capital Markets partners Mathias Eisen and Rebecca Marques advised KAEFER on the refinancing transaction.
Advisor to KAEFER Isoliertechnik GmbH & Co. Kommanditgesellschaft: Milbank, Tweed Hadley & McCloy LLP
Partners: Thomas Ingenhoven, Mathias Eisen, Rebecca Marques (joint lead, Finance and Capital Markets, Frankfurt/London), Thomas Kleinheisterkamp (Tax, Munich), Norbert Rieger (Corporate/M&A, Munich), Arndt Stengel (Corporate/M&A, Frankfurt), Catherine Leef Martin (Alternative Investments, New York), Andrew Walker (Tax, New York), Fabiana Sakai (Capital Markets, São Paulo).
Associates: Nikolas Koutsós (Finance, Frankfurt), Thomas Moeller (Capital Markets, Frankfurt), Moritz Philipp (Tax, Munich), Azzurra Camillieri, Darell Hayes, Dimos Papanikolaou, Tathyane Vosgerau, David Waserstein (all Global Capital Markets/London, New York, São Paulo), Michael Goon (Tax, New York), Megha Kalbag (Alternative Investments, New York).
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