DLA Piper advised SNF Floerger, the world’s leading producer of flocculants for water treatment, oil and gas applications (including enhanced oil recovery), and mineral extraction, on the refinancing by its holding company SPCM SA. This half a billion US$ transaction was successfully completed, notwithstanding volatile market conditions.
The transaction involved the issuance of new High Yield Notes in an amount of US$250m listed on the Luxembourg Stock Exchange, whose purpose was mainly to repay the group’s existing credit facilities. At the same time, SNF entered into a new senior revolving facility agreement, likewise in an amount of US$250m.
The DLA Piper team was led by partner Noam Ankri (Paris, Restructuring), with partners Guillaume Valois (Paris, Tax) and Robert Gruendel (New York, Finance), and associates Charles-Antoine Del Valle (Paris) and Glenn Reitman (New York).
