White & Case advises bank syndicate on €785 million financing of recycling services provider Befesa

Global law firm White & Case LLP has advised a syndicate of banks on the extension and increase of the syndicated financing of Befesa S.A., a recycling services provider for hazardous waste in the steel and aluminium industry, consisting of a €650 million secured term loan (term loan B) maturing in July 2029, a €100 million revolving credit facility maturing in July 2028 and a €35 million guarantee facility maturing in July 2028.

Citi and J.P. Morgan acted as global coordinators, mandated lead arrangers and active bookrunners, with BBVA, BNP, CaixaBank and Commerzbank acting as additional mandated lead arrangers and passive bookrunners.

The White & Case team in Frankfurt which advised on the transaction was led by partner Vanessa Schürmann and included partners Andreas Lischka, Sebastian Schrag, Bodo Bender and Thilo Diehl, counsel David Santoro and Alexander Born and associates Merve Mert and Misbah Qamar.

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