Clearwater International acted as sole financial adviser to Symrise AG on the structuring of a revolving credit facility with a volume of €300m and a tenor of 5 years.
The revolving credit facility represents the final element of the refinancing concept of Symrise AG, which aims at an early redemption of the existing debt and establishes a longer-term financing for the company. The facility was set up as a self-arranged club deal, leading to a highly competitive process, favourable conditions and minimal arrangement costs.
Symrise AG is a global supplier of fragrances, flavourings and raw materials as well as active ingredients for the perfume, cosmetics and food industry. With sales of €1.36bn in 2009 the company ranks among the top four in the international flavour and fragrance market.
Clearwater International, led by partner Dierk Rottmann with support from Norbert-Markus Roth, advised Symrise.