Tue 04/25/2023 12:03 PM
Relevant Documents:Preliminary OM
Covenant Analysis
Transaction Overview
German automotive component and steel tubing supplier Benteler is offering €975 million-equivalent of senior secured notes due 2028, split between a euro tranche and dollar tranche, to repay the company’s fully drawn €225 million RCF due 2024, as well as other senior facilities and amounts outstanding under the group’s restructuring debt.
The latter pertains to the
restructuring loan agreement that Benteler entered...
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