QUADPACK (EPA:MLQP) Quadpack enters into a new financing deal of EUR 38 million
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Quadpack Industries (Euronext Growth: ALQP), manufacturer and provider of packaging solutions to the global beauty industry, has entered into a new financing deal of €38 million with a syndicate of leading international and regional banks. Deutsche Bank is the mandated lead arranger and agent, accompanied by Caixabank, BBVA, Ibercaja and Institut Català de Finances, the public financial entity of Catalonia, Spain, as arrangers. KPMG served as an advisor to the deal.
Quadpack CEO Alex Chauvigné said: “This new financing deal is an important step for our company, that will enable us to focus on delivering our strategic plan and pursue growth opportunities in the years to come.”
The deal will allow the Group to simplify its financing structure, accelerating the repayment of the Covid loans, contracted with Spanish, French and German banks in 2020. The arrangement also enables the settlement of the remainder of the former syndicate loan, for the acquisition of German manufacturer Louvrette in 2019. Moreover, it allows for CAPEX financing over the next two years, as well as for working capital necessities.
Quadpack CFO Bardo Bevelander said: “We are delighted to be partnering with these leading international and regional banks and we are grateful for the confidence and support they have shown to the Group.”
Toni Martinez Saez, Structured Finance at Deutsche Bank, said: “This agreement demonstrates how collaboration between banks and businesses can lead to highly-tailored solutions that support a company's strategy and growth. Quadpack has strong ambition to grow and we are pleased to be able to help them on their journey.”
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Full and original press release in PDF: https://www.actusnews.com/news/81387-qp-deutsche-bank-financing-pr-en.pdf