Slaughter and May is advising Synthomer on its refinancing

Slaughter and May is advising Synthomer plc, an LSE-listed speciality chemical company, on the refinancing of its existing RCF and UKEF facilities (the “Refinancing”).

The Refinancing is being implemented through a wholly owned subsidiary of Synthomer, to which a new €300 million RCF and new UKEF debt facilities of €288 million and $230 million have been made available.  The new RCF and UKEF facilities include amended financial covenants and are supported by a comprehensive security and guarantee package.

In connection with the Refinancing, certain of Synthomer’s subsidiaries (which hold the Group’s operation in the USA) have become “unrestricted subsidiaries” under Synthomer’s senior unsecured notes.