Triton acquires RENK Group via high-yield bond financing
Frankfurt a. Main/ Munich — The international law firm Latham & Watkins LLP has advised funds advised by Triton on the financing in connection with the acquisition of the RENK Group. In addition to a high-yield bond (senior secured notes, 144A/Reg S) placed with institutional investors with a volume of EUR 320 million, a maturity in July 2025 and a coupon of 5.75 percent p.a. Senior secured credit facilities (Super Senior Revolving Credit Facilities) with a volume of EUR 40 million (cash line) and EUR 167.5 million (guarantee line). The Senior Secured Notes are listed on The International Stock Exchange (Official List).
The transaction was accompanied by a banking syndicate consisting of Goldman Sachs International, Commerzbank, Credit Suisse, Deutsche Bank and UniCredit Bank.
Latham & Watkins advised Triton with the following team:
Dr. Rüdiger Malaun (Partner, Munich), Dr. Alexander Lentz (Partner, joint lead), Gregory Walker (Counsel), Jan Penselin, Jana Sichelschmidt, Peter Neuböck (Associates, all Capital Markets), Alexandra Hagelüken (Partner), Cora Grannemann (Counsel, both Banking, all Frankfurt), Stefan Süß (Partner, Tax, Munich), Verena Seevers (Associate, Tax, Hamburg)