Global law firm White & Case LLP has advised the lenders, led by Citibank, on the repricing of Befesa S.A.'s term loan B.
Befesa is a leading international provider of regulated environmental services to the steel and aluminium industries with facilities located in Germany, Spain, Sweden, France, Turkey, South Korea, China and the US. Befesa manages and recycles around 1.9 million tonnes of residues annually, with a production of around 1.7 million tonnes of new materials that Befesa reintroduces into the market, reducing the consumption of natural resources.
The repricing achieved a 50 basis points reduction to the interest rate applicable to the €650 million term loan B covenant light facility.
Citibank N.A., London Branch acted as sole global coordinator, mandated lead arranger and active bookrunner, and J.P. Morgan SE acted as passive bookrunner for the repricing.
The White & Case team in Frankfurt which advised on the transaction was led by partner Vanessa Schürmann and included partner Andreas Lischka, associates Merve Mert and Ben McIver and international attorneys Busra Ustuntas and Diana Machingaidze.
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