London/Frankfurt am Main — Global law firm Mayer Brown has advised Wepa Hygieneprodukte GmbH on the completion of another successful financing transaction. The main feature of the overall transaction was a €550 million dual-tranche high yield bond offering. The €350 million 2.875% Senior Secured Fixed Rate Notes due 2027 and €200 million Senior Secured Floating Rate Notes due 2026 are being listed on The International Stock Exchange. In addition, Wepa significantly amended and restated its Super Senior Revolving Credit Facility, including by adding an increase option, as well as its Intercreditor Agreement.
The main purpose of this latest financing transaction was to refinance Wepa’s existing €450 million 3.750% Senior Secured Notes due 2024 as well as to finance certain expansion projects and increase flexibility for further successful growth of the Wepa Group.
Wepa Hygieneprodukte GmbH, a family-owned company headquartered in Arnsberg, Germany, is one of the leading tissue producers in Europe.
The Mayer Brown team on this financing transaction included lawyers from the firm’s offices in Düsseldorf, Frankfurt, London, Paris and New York and was led by Capital Markets and Leveraged Finance partner Bernd Bohr (London), Corporate & Securities counsel Jan Streer (Düsseldorf) and Banking & Finance partner Bernina Butt (Frankfurt), supported, among others, by Corporate & Securities partner Marco Wilhelm (Frankfurt), Banking & Finance partner Martin Heuber (Frankfurt), Head of Banking & Finance Germany Patrick Scholl (Frankfurt), Tax Transactions & Consulting partner Volker Junge (Frankfurt), Banking & Finance partner Alban Dorin (Paris), Banking & Finance partner Andrew Crotty (London), Tax Transactions & Consulting partner Jared Goldberger (New York), Banking & Finance counsel Kirsten Schürmann (Frankfurt), Corporate & Securities counsel Malte Richter (Frankfurt), Employment & Benefits counsel Vanessa Klesy (Frankfurt), Corporate & Securities associate Anne Bagdons (Frankfurt), Corporate & Securities associate Anja Schwietering (Düsseldorf), Tax Transactions & Consulting Associate Matthias Golz (Frankfurt), Banking & Finance senior associate Danister de Silva (London), Banking & Finance associate Ignacio Mirasol (London), Banking & Finance associate Elise Baha (Paris) and Banking & Finance transaction lawyer Diego Noriega (Frankfurt).