Herter & Co. – Teneo Capital Advisory Advised KAP AG on the Financial Restructuring of its Liabilities
Herter & Co. advised the listed industrial holding company KAP AG (“KAP”) on the financial restructuring, amendment and extension of its existing syndicated loan. The agreement reached, involving a total volume of EUR 96 million and a term running until 30 March 2029, provides the Company with a sustainable capital structure.
Against the backdrop of persistently subdued demand in key customer sectors, the amended financing agreement creates a stable financial framework. The amendment provides sufficient liquidity to pursue and implement necessary restructuring measures as outlined in the IDW S6 report while derisking lenders.
Marten Julius, Spokesman of the Management Board of KAP, said “The amendment to our syndicated loan agreement represents an important intermediate step in enabling us to continue the measures already initiated as part of our restructuring process. We thank Herter & Co. for their support throughout the entire process from structuring considerations, negotiations through to implementation.”
Herter & Co. acted as exclusive financial advisor to KAP throughout the restructuring process and worked closely with the Company, other stakeholders and their respective advisors to deliver the successful restructuring
About KAP AG
KAP AG is a listed industrial holding company focused on upper mid-size operating companies and currently focuses on three core segments: flexible films, engineered products and surface technologies. KAP AG currently has some 1,550 employees at 18 locations in ten countries. With active investment management, KAP focuses on continuously optimizing the existing portfolio and creating value. At the same time, the individual strengths and identities of the companies operating successfully on the market are preserved. KAP AG’s shares are listed on the Regulated Market of the Frankfurt Stock Exchange (General Standard, ISIN DE0006208408).