Distribution
Background
A large European distributor with a commitment for innovation and adapting its products for the marketplace. The business generates over €1.5 billion in revenues and has thousands of employees spread over numerous countries.
Reason for Finance
In recent years, the Group has developed the business model to improve efficiency, including restructuring the financial facilities. The business was feeling increasingly restricted by limits on existing Senior Bank facilities and additional finance was required to meet its medium term strategy of expansion via acquisition. This financing transaction featured the conversion €180m out of €500m total debt into a Receivables Financing facility, with the consent of the incumbent banking syndicate.
The Solution
ABN AMRO Commercial Finance acted as Lead Arranger & Collateral Agent to structure a unique Cross Border Receivables funding solution across 4 territories on a club deal basis. All 4 financiers participated within a Loan Market Association (LMA) standard legal structure from the start in a shared risk in their own territory, providing a global line of €180m (ACF €80m).
Highlights
Complex Cross Border Financing solution across 4 territories in France, UK, the Netherlands and Belgium.
Collaborative approach: working with 3 other financiers committed to participate providing a European factoring line.
Reliable delivery: The ACF Group acted as Lead Arranger and Collateral Agent across all 4 countries on behalf of the syndication providing a global line of €180m (ACF €80m)