BCLP advises in global financing raise worth €70m for Berkem Group

Bryan Cave Leighton Paisner (BCLP) advised the co-arrangers and banking pool involved in the raising of a global financing worth €70 million for Berkem Développement, a wholly owned subsidiary of Berkem Group and a key player in the chemical industry.

The financing is composed of a bank financing of €63.5 million, of which €43.5 million is confirmed, and of a €6.5 million issue of Recovery Bonds (Obligation Relance).

For Berkem Développement, the financing operation consists of the setting up of a €12 million refinancing loan, €6.5 million investment credit line, €5 million revolving credit line and €40 million credit line for external growth, of which €20 million is confirmed.

This transaction will enable Berkem Group to refinance its bank debt under attractive conditions and to pursue its development ambitions in France and abroad.

BCLP’s team, led by Partner Olivier Borenstejn, assisted by Associates Gwenaël Fassot and Aliou Wone, advised Caisse Régionale de Crédit Agricole Mutuel d'Aquitaine (team led by Pierre Breffeilh) and Hélia Conseil (team led by Nicolas Egea), as co-arrangers, as well as the banking pool composed of Caisse Régionale de Crédit Agricole Mutuel d'Aquitaine, Caisse d'Epargne et de Prévoyance Aquitaine Poitou Charentes, Banque Palatine, Banque Populaire Aquitaine Centre Atlantique, Crédit Lyonnais and La Banque Postale.

TP ICAP Midcap, with a team led by Matthias Kuntz, acted as exclusive financial advisor to Berkem Group and as coordinator of the transaction.

Law firm Fieldfisher acted as legal advisor to Berkem Group with a team led by Partners Hélène Lefebvre (on bank and bond financing aspects) and Samuel Pallotto (on corporate and capital markets aspects).

Recovery Bonds were fully subscribed by the Obligations Relance France fund and the Obligations Relance France - Eurazeo Investment Manager fund, both managed by Eurazeo Investment Manager - EIM.

Law firm Kramer Levin acted as legal counsel to Eurazeo Investment Manager - EIM, with a team led by Partner Sophie Perus.