Bulboaca & Asociatii, working with Morgan, Lewis & Bockius, has advised the Canpack Group on contracting a new EUR 100 million revolving credit facility from a consortium of banks led by BNP Paribas Bank Polska. Kinstellar, working with Linklaters, advised the banks.
The lender's consortium included arranger, agent, sustainability coordinator, and original lender BNP Paribas Bank Polska and arrangers and original lenders ING Bank Slaski and PKO Bank Polski.
According to Bulboaca & Asociatii, "the new facility, secured by certain assets, together with the USD 400 million asset-based revolving credit facility announced in March 2023," replaces a previous euro and zloty multicurrency revolving facility that had been in place until March 2023. The new facility was contracted to cover the general corporate and working capital needs of the Canpack Group, providing it with "even greater flexibility to address market conditions and its financial needs."
The Canpack Group, part of Giorgi Global Holdings, Inc is a global manufacturer of aluminum beverage cans and packaging solutions for the food industry, as well as glass bottles and metal closures. Headquartered in Krakow, the company employs over 9,000 people worldwide and has operations in 16 countries.
Back in 2021, both Bulboaca & Asociatii and Kinstellar had also advised on an USD 800 million joint high-yield bond issuance by Canpack Poland and Canpack US (as reported by CEE Legal Matters on November 2, 2021).
The Kinstellar team was led by Special Counsel Magdalena Raducanu and included Managing Associate Razvan Constantinescu, Associate Adelina Seserman, and Junior Associate Cosmin Mitrica.
The Bulboaca & Asociatii team was led by Managing Partner Adrian Bulboaca.
Editor's Note: This article was updated on July 14, 2023, to include additional lawyers working on the matter.