IFCO replaces Second Lien Loan of 200 million Euro prematurely
The new Term Loan B add-on facility is unchanged running for 6 years and the interest rate margin is significantly reduced to currently 3.5 percent per year
Pullach, July 2, 2020: IFCO GROUP, the world’s leading supplier of Reusable Plastic Containers (RPCs) for fresh food, has prematurely replaced its Second Lien Loan, entered in 2019, by an add-on facility to its existing Term Loan B of 200 million Euro. The transaction met with lively demand among institutional investors in Germany and abroad and was over-subscribed several times.
The maturity of the add-on facility is unchanged in 2026 and comes with an interest rate margin of currently 3.5 percent per year. This means a considerable reduction in interest expenses compared to the previous second lien financing.
With the new add-on facility, IFCO is able to expand its funding framework for its planned growth while further reducing its interest expenses. The globally operating provider of
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