Restructuring of Schoeller Allibert

Schoeller Packaging B.V., a key company in the returnable plastic packaging solutions sector, successfully completed its comprehensive recapitalisation as announced on 23 October 2023.

Following the withdrawal by Schoeller Packaging B.V. of Dutch WHOA proceedings commenced earlier in October 2023, the recapitalisation transaction was carried out with full consent from the group’s shareholders, bondholders and revolving credit facility lenders.

Proceeds from a EUR 154 million equity investment from its shareholders, Brookfield and Schoeller Industries, combined with a new five-year senior secured term loan from Strategic Value Partners in the amount of EUR 125 million, will be used to refinance the EUR 250 million senior secured notes due November 2024 and provide additional capital to the Company for general corporate and strategic purposes. The existing €30m Super Senior Revolving Credit Facility has also been extended for four and a half years.

Added value Loyens & Loeff

Our multidisciplinary team acted as Dutch counsel to Brookfield, drawing on our extensive expertise in handling intricate cross-border restructurings involving complex group structures and intra-group dynamics.