Brenntag refinances Syndicated Loan ahead of Schedule
Global chemical distributor Brenntag AG (Mülheim an der Ruhr, Germany) announced yesterday that the group has refinanced its existing syndicated loan agreement at an early stage, thus extending the term. With a volume of around EUR 1.7 bn, the syndicated credit line is the most important financing instrument for the Brenntag Group, the statement said.
The term of the new syndicated loan is now to end in January 2022 at the earliest, while the previous syndicated loan had been scheduled to run until March 2019. Brenntag said, this move reduces interest expenses and brings about further improvements in the credit documentation.
The transaction, which was placed within Brenntag’s existing banking syndicate, was significantly oversubscribed.
Source: Brenntag press release
HGE – DCG / 02.02.2017