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Freshfields advises JPMorgan and other banks on a landmark TLB financing for Schur Flexibles

Freshfields Bruckhaus Deringer ('Freshfields') has advised JPMorgan and certain other banks ('Banks') on a landmark financing for Schur Flexibles, one of the leading European flexible packaging manufacturers. The financing comprised of a EUR 475,000,000 term loan B (TLB) which has been marketed to institutional investors and a EUR 100,000,000 revolving credit facility. The proceeds from the financing shall be used to refinance certain existing financing arrangements of Schur Flexibles Group and for working capital purposes.

Freshfields has advised over recent years on many TLB transactions as this finance product has seen an substantial increase in the market. The Freshfields team has advised the Banks on all the legal aspects of the transaction, including with regard to pre-marketing and marketing of the TLB to potential investors. The transaction closed on 30 September 2021.

The multijurisdictional Freshfields team leading this transaction comprised of Michael Josenhans (lead), Florian Klimscha, Mandeep Lotay, Alexander Pospisil, Christina Banz, Georg Lübbehüsen, Christian Oberkersch, Matthis Grenzer, Aleksandar Djurdjevic and Sazan Isufi (all finance).