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Exxelia refinances debt structure

Exxelia, a manufacturer of high-performance complex passive components and subsystems focusing on highly demanding end-markets such as civil aeronautics, space and defence, has refinanced and simplified its debt structure.

The former structure, which comprised both senior debt as well as a mezzanine debt financing, was enforced in March 2014 before the acquisition by IK Investment Partners, has been replaced at the same leverage by the issuance of a new senior tranche of EUR160 million.
The debt has been arranged by a club of European blue chip banks and financial institutions: CM-CIC, HSBC and Société Générale acted as Global Coordinators. Bank of Ireland, BNP Paribas, Crédit du Nord, Idinvest, ING, KBC, LCL, SCOR and Siemens Bank also participated in the new financing.
Exxelia has completed three add-on acquisitions since 2015, of which two were in the US. It says its new flexible financial structure, which is compatible with its build-up strategy, will allow the group to move forward on its growth trajectory.
Exxelia was advised by Canaccord Genuity, 8Advisory, Advention and White & Case throughout the debt refinancing process.

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