Broadly supported by Foundever’s lenders and existing majority shareholders, the transaction strengthened the group’s capital structure through a combination of new equity, debt reduction and maturity extensions. 95.4% of its term loan lenders and 100% of its revolving credit facility lenders participated in the transaction.
Foundever’s existing majority shareholders provided USD 225 million of new equity, while a term loan exchange reduced the group’s total debt by nearly USD 900 million. The maturities of its revolving credit facility and term loan facility were also extended to December 2030 and March 2031, respectively.
The transaction further included a new three-year USD 225 million global accounts receivable financing facility, providing additional liquidity and replacing Foundever’s existing factoring arrangements.
The transaction required coordinated advice across Luxembourg and the Netherlands, with our Banking & Finance, Corporate and Tax teams working together on the various elements of Foundever’s recapitalisation and refinancing.
