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Clearwater International advises Papierfabrik Palm on EUR450m mid-term financing

Clearwater International has been mandated by Papierfabrik Palm to support the company in developing and implementing a favourable mid-term financing structure.

Based on a tailor-made financing concept, Clearwater International coordinated a competitive process with several international banks and managed the structuring of a refinancing comprising a term loan and a revolving credit facility with a total volume of EUR450 million and a tenor of 4.5 years.
 
Family-owned Papierfabrik Palm, based in Aalen-Neukochen (Germany), is one of the leading companies in the European paper industry. The company is divided into the paper division with its five paper mills for the manufacturing of newspaper and the packaging division with 28 plants for the manufacturing of corrugated board. With approximately 4,000 employees, the company generates sales of approximately EUR1.4 billion.
 
Clearwater International advised Papierfabrik Palm, led by partner Dierk Rottmann, with support from head of capital markets Norbert-Markus Roth.
 
Rottmann says: “We are delighted to have assisted Papierfabrik Palm in securing a truly tailor made mid-term refinancing to support the continued international growth of the business. The financing was structured by way of a self-arranged club deal at very favourable conditions which exceeded our client´s expectations.”

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