Private placement (Senior Notes due 2017/2019 in tranches of USD/CHF) for Franke of USD 170m
Swiss Capital Group advised Franke in partnership with RBS
Private placement (Senior Notes due 2017/2019 in tranches of USD/CHF) for Franke of USD 170m
Sector(s) : Industry and automotive
Date : November 2007
Advisor(s) : Swiss Capital
Advised : Private Placement
Mid-Capital partner Swiss Capital Group advised Franke in partnership with RBS
Franke Holding AG is the world’s largest manufacturer of stainless steel sinks and supplier of commercial kitchens to quick service restaurant chains (including McDonald’s, Burger King and the Yum! Group). Other activities include coffee systems, washroom systems, beverage systems and industrial engineering. In July 2007, Franke Holding AG acquired South African based Defy Ltd., a locally leading manufacturer, importer and distributor of cooking, laundry, refrigeration and air conditioning appliances.
Franke Holding AG decided to refinance this transaction through a US Private Placement. The transaction was upsized from USD 100m, raising USD 170m with maturities of 2017 and 2019 provided in USD as well as in CHF, amounting to USD 55m and CHF 117m, respectively. Franke achieved attractive Note Purchase Agreement terms in a market demanding a high level of structural protection.
Swiss Capital Group initiated the private placement and acted together with its long term product partner, the Royal Bank of Scotland (RBS), as arranger and placement agent to Franke.
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