Herter & Co. advises Westfälische Drahtindustrie GmbH („WDI“) on the refinancing of its debt facilities via a new syndicated loan with a maturity of 3+1+1 years.
The new financing with a total volume of €70m includes a revolving credit facility as well as an amortizing term loan. In addition to existing lenders, new partner banks have been included in the newly formed consortium.
"We have delivered a number of work streams of the process with in-house resources. However, Herter & Co. provided valuable support throughout all phases of our financing process, including the preparation of key documents, determination of the appropriate structure, bank selection as well as final documentation. The new financing solution that we have achieved provides financing security for the next years at increased flexibility." said Wulf-Hendrik Pistorius, CFO of WDI.
WDI, headquartered in Hamm, together with its national and international subsidiaries is a leading European provider of wire products e.g. cold heading wire, iron- and steel wire, machining steel, stainless, acid and heat resisting steels, steel matts, crane cables and conductors as well as prestressing steel and fences.