Milbank LLP advised Raiffeisen Bank International AG (“RBI”) in its role as underwriter on the successful refinancing of Prefere Resins, a portfolio company of One Rock Capital Partners. The terms of the transaction, which closed on October 31, 2023, were not disclosed.
RBI is headquartered in Austria, where it is a leading corporate and investment bank, and regards Central and Eastern Europe (CEE) as its home market. Additionally, the group comprises numerous other financial service providers, for instance in the fields of leasing, asset management, as well as M&A. To support its business activities, RBI operates representative offices and service branches at selected Asian and Western European locations.
Prefere Resins, headquartered near Berlin, Germany, is a leading European manufacturer of adhesive resins used in engineered wood, insulation, coatings and other specialty applications. Prefere Resins is the pioneer in bio-based resins with an increasing lignin-based phenol-formaldehyde (LPF) resins portfolio, the foundation for continued market leadership. The company has displayed a resilient financial profile through macroeconomic cycles thanks to strong customer and end-market diversification in Europe and the US, as well as robust cost pass-through mechanisms.
The Milbank team that advised RBI on the financial and tax aspects of the transaction, was led by partner Thomas Ingenhoven (Finance, Frankfurt) and included partner Thomas Kleinheisterkamp (Tax, Munich) and special counsel Thomas Möller (Finance, Frankfurt) as well as associate Lara Milione (Finance, Frankfurt), Pranahita Srinivas (Finance, London) and Elisabeth Wöhrle (Tax, Munich).
