Walder Wyss advises CABB on its successfully refinancing
The CABB Group has successfully concluded its refinancing round. New bonds with a total volume of EUR 670 million and terms until 2028 were successfully placed with institutional investors. The issue comprises two tranches: EUR 420 million with a fixed interest rate and EUR 250 million with a variable interest rate. The proceeds will be used to fully settle previous liabilities.
The group has also signed a revolving credit line of EUR 110 million with a broad consortium of international banks, with a term until the end of 2027. This will further boost the Group’s liquidity reserves and showcases the close and longstanding relationship with CABB’s group of core banks.
CABB group, owned by Permira funds since 2014, is a leading crop science development and manufacturing (CDMO) and fine chemistry manufacturer, supplying customised active ingredients and high-complexity and high-purity chemical ingredients to customers in the crop science, life science and performance materials markets.
Walder Wyss advised CABB group on its EUR 670 million senior secured floating rate notes and 8.75% senior secured fixed rate notes due 2028 and a new EUR 110 million revolving credit facility.The team was co-led by Luc Defferrard (partner, pictured left) and Tervel Stoyanov (counsel, both banking and finance, pictured right) and further included Maurus Winzap (partner, tax), Ramona Wyss (partner, banking and finance) and Vangelis Kalaitzidakis (associate, tax).
