Milbank Advises Initial Purchasers on Manuchar’s €425M High Yield Bond Offering and RCF Lenders on Amendment and Extension of Revolving Credit Facility

Milbank LLP represented the initial purchasers in connection with the offering by Manuchar Group BV of €425 million in aggregate principal amount of senior secured floating rate notes due 2032 and the lenders in connection with the amendment and extension of Manuchar’s super senior revolving credit facility.

Manuchar is expected to use the proceeds from the offering to redeem in full its €350 million senior secured notes due 2027, repay drawings under its revolving credit facility and pay related fees and expenses.

The initial purchasers included Barclays, Goldman Sachs International, ING, BBVA, BNP PARIBAS, IMI - Intesa Sanpaolo and UniCredit Bank.

Manuchar is a leader in dry bulk raw materials and ingredients distribution in emerging markets through its extensive network of distribution, warehousing and port operation facilities in over 40 countries. It is one of the leading distributors in Latin America and Africa of chemical products used in the home care industry, and one of the leading distributors of raw materials and ingredients in Brazil. Its services cover the full value chain of raw materials and ingredients distribution services, including sourcing, maritime logistics, port operations and inland transit, warehousing and last mile logistics.

The Milbank team was led by European Leveraged Finance/Capital Markets partners Rebecca Marques and Sarbajeet Nag, associates Stefanos Serfas, Michael Gatter, Alexandros Makris, Katherine Williams and Irene Vazquez Scortti. The team also had assistance from Tax partner Andrew Walker and associate Blake Rocks.