Vita Group in Negotiation of a Three Year Pan-European Factoring Arrangement

October 4, 2013

Cleary Gottlieb assisted European companies of the Vita Group, a world-class producer of cellular foams, industrial polymers and engineered thermoplastic sheet, in the negotiation and implementation of a three year pan-European factoring arrangement.

The factoring arrangement has been entered into among GE Factofrance and more than twenty Vita Group companies located in eight European jurisdictions: France, England, Germany, Italy, Luxembourg, The Netherlands, Poland and Scotland.

The pan-European factoring arrangement allows the Vita Group to refinance the existing 2009 senior financing and replaces, with respect to the French companies, the existing French factoring arrangement with GE Factofrance implemented in June 2009.

The factoring agreement was executed on July 25, 2013. The transaction closed on October 1, 2013 (in all jurisdictions, other than France) and on October 4, 2013 in France.