The refinancing of Klöckner Pentaplast included €1.2 billion (equivalent) senior secured term loans denominated in euro and U.S. dollars, €400 million of senior secured notes and €300 million of senior unsecured notes. This refinancing is the first of its kind to incorporate an ESG-linked term loan ratchet marketed to U.S. investors, integrating performance on key ESG issues with set targets for 2025.
Klöckner Pentaplast, with the support of its majority shareholder Strategic Value Partners, LLC and its affiliates, has successfully positioned itself as a global sector leader, focusing on its core market segments of Pharma, Health & Protection and Proteins. The company remains committed to a comprehensive ESG and sustainability strategy.
The Loyens & Loeff Luxembourg team putting together corporate and finance experts was led by corporate partner Siobhán McCarthy, with senior associate Kristof Jansen and associate Zuzanna Ostromecka. The team further consisted of finance partners Anne-Marie Nicolas and Cédric Raffoul, senior associate Alvaro Garrido Mesa and associates Sixtine Auguet and Martina Benackova. Partner Michael Scott remained responsible for the matter.
For more information on this deal, please refer to our client’s press release.