Havel & Partners as a member of the team of counsels led by Latham & Watkins LLP advises syndicate of major banks on refinancing of Progroup AG

17. 05. 2018

HAVEL & PARTNERS as Czech counsel led by Latham & Watkins LLP has advised the consortium of banks consisting of Deutsche Bank AG, London Branch, Commerzbank Aktiengesellschaft, HSBC Bank plc, Goldman Sachs International and J.P. Morgan Securities plc as initial purchasers of 3% senior secured notes in an aggregate principal amount of EUR 450,000,000 due in 2026 issued by Progroup AG on bond offering refinancing as well as the consortium of banks consisting of Commerzbank Aktiengesellschaft, HSBC Trinkaus & Burkhardt AG, Deutsche Bank Luxembourg S.A., Goldman Sachs International, Goldman Sachs International Bank, J.P. Morgan Securities plc, Deutsche Bank AG, London Branch, IKB Deutsche Industriebank AG, Goldman Sachs Lending Partners LLC, Goldman Sachs Bank USA and Wilmington Trust (London) Limited as finance parties in relation to several facilities agreements in an aggregate of more than EUR 600,000,000 (equivalent).

Progroup AG is a leading, family-owned producer and supplier of containerboard and corrugated board in Central Europe. Certain subsidiaries of Progroup AG based in Germany, Czech Republic, Poland and the United Kingdom of Great Britain and Northern Ireland are co-obligors under this cross-border transaction.

The HAVEL & PARTNERS team which already assisted with preceding stages of the on-going financing during the last years advising on the Czech matters of the transaction was made up of Michal Ranostaj and Petra Bátovská.

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