Cleary Gottlieb assisted Sodiaal, the French leading diary cooperative group (with stakes in Yoplait and Candia), in the negotiation and implementation of a new club deal credit agreement for a total amount of €225 million, as part of the refinancing on July 7 of Sodiaal’s and certain of its subsidiaries’ existing credit facilities.
The new €225 million credit agreement has been entered into with Banque de l’Economie du Commerce et de la Monétique, CIC Lyonnaise de Banque, and Société Générale Corporate and Investment Banking as Mandated Lead Arrangers and Société Générale as Agent.
The transaction allows Sodiaal International to centralize the Group’s financing sources, partially refinance the Group’s existing facilities, and increase the available financing reserves as part of the Group’s development plan.