Cleary Gottlieb represented Credit Suisse in its role as Lead Arranger in a $400 million dual-currency senior secured guaranteed term loan facility for Grupo Bio Pappel.
Bio Pappel is a Mexican company specializing in the manufacturing of paper products. The loan is secured by pledges of certain properties, equipment and shares of Bio Pappel and its affiliates, and will be guaranteed by all of Bio Pappel’s subsidiaries, including Grupo Papelero Scribe, which was acquired by Bio Pappel in 2015.
The proceeds of the loan were used to refinance existing debt and redeem outstanding bonds of Grupo Papelero Scribe. The closing date occurred on November 30, 2016. Cleary previously represented Credit Suisse in the acquisition financing for Bio Pappel’s purchase of Grupo Papelero Scribe in 2015.