Latham & Watkins has advised the committee of first and second lien lenders in the successful completion of an amendment and extension transaction with respect to Flint Group’s c. €1.89 billion of credit facilities. The transaction has extended the maturity dates of Flint Group’s revolving credit, ABL and term loan facilities by approximately two years, and was supported by 100% of Flint Group’s revolving credit and ABL facility lenders, over 97% by value of its first lien term lenders and almost 100% by value of its second lien term lenders.
The extension of the term loan facilities was achieved through the implementation of parallel English schemes of arrangement across multiple borrowers in a number of jurisdictions.
Flint Group is a global leader in the supply of consumables and services to the packaging and printing industries.
The Latham team was led by London restructuring and special situations partner Yen Sum and counsel David Wallace, with associate Bhaveen Parekh. New York law advice was provided by banking partner David Teh, with associates Joseph Zenruffinen and Gloria Torres.