DLA Piper Advises Kaupthing Bank on Refinancing

Court News Center Posted on

DLA Piper UK LLP has advised Kaupthing Bank Hf on its provision of over€523 million Senior and Mezzanine debt refinancing package, togetherwith PIK facilities of €65 million for Refresco BV, the leadingproducer of private label soft drinks and co-packer of A brand drinksin Europe.

The refinancing takes account of the growth in the Refrescobusiness and four significant acquisitions made by Refresco throughoutEurope in 2007, and includes €137 million increased senior andmezzanine facilities. Equity funding was provided by FL Group and theother original investors.

Refresco's revenue is now expected to be double that from the timethe FL Group-led consortium bought into it - at approximately €1.3billion.

Tamsyn Mileham, commented: "This was a significant financetransaction for Kaupthing Bank Hf and also for DLA Piper given thecurrent extreme conditions in the syndications market. Unanimous lenderconsent from a large syndicate was required to enable this transactionto complete and the increased facilities were over-subscribed,indicating that there is some liquidity in the syndications market forstrong businesses.

"The transaction also reflects DLA Piper's continuing success in building our pan-European and global practices.''

"We are delighted to have once again been involved with KaupthingBank Hf for whom we have acted for a number of years. We also lookforward to the continuing development of the Refresco business which weunderstand intends to make new acquisitions in the years ahead."

The DLA Piper team was led by Finance & Projects Associate,Tamsyn Mileham, with assistance from Ewen Scott and Simon Major in theUK, and assistance from DLA Piper's offices in the Netherlands,Belgium, Spain, Germany and France, together with advice from Borenius& Kempinnen in Finland and Lukowicz, Swierzewski & Partners inPoland.

Legal News Media

Legal News Organization press is the top headline legal news provider for lawyers and legalprofessionals. Read law articles and breaking news from law firm's across the United States to get the latest updates. The content contained on the web site has been prepared by Legal News Media as a service to the internet
community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.




American Bar Association – Start and Run a Law Firm

NewYorkStateBar.com – Starting a Law Firm

Lawyer Web Direct

CPA Website Designs