DLA Piper advises consortium of lenders on EUR255 million financing for construction chemicals supplier Selena FM Group

DLA Piper has advised a consortium of lenders comprising of BNP Paribas Bank Polska, PKO Bank Polski, Santander Bank Polska, Credit Agricole Bank Polska and Bank Handlowy w Warszawie, on the EUR255 million term and revolving facilities made available to Selena FM and its subsidiaries.

Selena FM, listed on the Warsaw Stock Exchange, is a leading global supplier of construction chemicals. It is one of the four largest manufacturers of assembly foam for the construction industry worldwide with its products available in over 100 markets globally.

The financing will be used to fund capital expenditure investments, support foreign acquisitions, refinance existing indebtedness, and cover general corporate purposes. The facilities are secured by a package of guarantees, including guarantees granted by Selena’s European subsidiaries, and a guarantee issued by the Polish Export Credit Insurance Corporation.

DLA Piper’s scope of advice included comprehensive support to the financing banks, preparation and negotiation of finance documentation (including facilities agreements and bilateral agreements), preparation of the hedging strategy letter, and coordination and support in the fulfilment of conditions precedent to the initial utilisation of the facilities.

A cross-border and multidisciplinary team from DLA Piper’s Poland, Italy, Spain, and Portugal offices worked on the transaction led by partner Katarzyna Jakubiak (Warsaw). She was supported by partners Giuseppe Mele, Gonçalo Castro Ribeiro, César Herrero Mazarío (all Finance), and Ana Carvalho (Tax), legal director Ivano Sproviero, senior associates Anna Tomaszewska, Pablo González Casanova, lawyer Giulia Gambarini, and junior associates Jakub Figura and Maria Madalena Saldanha.