Global law firm Norton Rose Fulbright has advised infrastructure investment group BBGI SICAV S.A. on the refinancing of a £180 million multicurrency secured holdco accordion facility with ING Bank and KfW IPEX-Bank.
The new facility will replace an existing £180 million facility when it reaches the end its term in January 2018.
The refinancing enables BBGI to benefit from improved commercial terms, including a longer tenor, the addition of a £70 million commitment fee-free accordion tranche, a reduced margin and reduced arrangement and commitment fees. It also involved the accession of new group companies as guarantors. The new facility will be used mainly to finance group investments and acquisitions to support the continued expansion of the BBGI group.
Tomas Gärdfors, partner, commented:
“This is an exciting deal where we could draw on our global infrastructure knowledge together with our deep holdco financing experience to the benefit of our long standing client BBGI.”
The Norton Rose Fulbright team was led by finance partner Tomas Gärdfors and senior associate, Hannah Logan, with assistance from associate Frances Chapman.
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