Fedrigoni to add €30 million on revolver, plans €90 million term loan

Chicago, Jan. 9 – Fedrigoni announced that in connection with a new notes offering, certain lenders will be lending the company an additional €30 million under the revolving credit facility that lists Fiber Bidco SpA as borrower, according to a press release.

The increase will be fungible with the commitments on an existing revolving credit facility, bringing total commitments to €180 million.

The company also said that in January, Fedrigoni, as borrower, expects to enter into a €90 million term loan.

The term loan is expected to have Banca Monte dei Paschi SpA, BPER Banca SpA, Banco BPM SpA and UniCredit SpA as mandated lead arrangers. UniCredit will be the facility agent. A guarantee will come from SACE SpA. Proceeds will be used for lease costs, investments and capital expenditures relating to Fedrigoni’s operations in Italy.

Proceeds will be used to redeem senior secured floating-rate notes due 2027 and pay fees and expenses in connection with the new financing.

Fedrigoni is a Verona, Italy-based paper manufacturer.

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