Kyriakides Georgopoulos has advised Frigoglass on an up to EUR 55 million interim financing from the holders of the existing senior secured notes due 2025, with the funding to be used for debt and capital restructuring.
According to KG, the Frigoglass Group also “entered into a lock-up agreement, pursuant to which the parties commit to provide support to implement, by January 2023, the transaction aiming at the overall restructuring of the Frigoglass Group’s debt.”
The Frigoglass Group is a manufacturer of commercial refrigeration products as well as glass and plastic packaging. It's listed on the Athens stock exchange and has production hubs in Romania, Russia, Greece, India, Indonesia, South Africa, and Nigeria.
Five years ago, in 2017, KG advised Frigogalss on the completion of its previous debt and capital restructuring process (as reported by CEE Legal Matters on November 2, 2017).
KG’s team included Partners Theodore Rakintzis, Konstantinos Issaias, and Panagiotis Pothos, Senior Associate Meletios Andrianos, and Associate Maria Karampotsiou.
KG did not respond to our inquiry on the matter.
Editor's Note: In May 2023, Kyriakides Georgopoulos announced that the restructuring had been successfully completed, "leading to the strengthening of the group’s capital structure, now controlled by the group’s noteholders and by Frigoglass SAIC, retaining a minority stake." In addition to the firm's original team, Partners Ioanna Kyriazi and Irene Kyriakides worked on the matter as well.
