GCA Altium advises Allgeier on its long-term refinancing
The Munich-based group, which maintains more than 100 branches in 20 countries worldwide, has over 6,800 salaried employees and more than 1,300 freelance experts. Allgeier’s customers include globally operating groups as well as innovative medium-size business operations that aim to secure strategic advantages through high-performance IT solutions, intelligent software and flexible personnel services.
Earlier this week Allgeier signed a new EUR 180m flexible revolving loan facility with six banks (BayernLB, Commerzbank, ING, LBBW, Helaba and NordLB). The new facility has an initial maturity of five years, which can be extended to seven.
The new facility will be used to refinance Allgeier’s existing debt and to provide financing for potential acquisitions. Given Allgeier’s high M&A activity, the corporate-style loan facility includes certain features of LBO structures.
GCA Altium advised Allgeier on the full financing process. “We have been able to provide Allgeier with a mixture of the best of two worlds, classic corporate loan structures and LBO features. This gives Allgeier the flexibility it needs on corporate terms,” said Johannes Schmittat, Managing Director at GCA Altium.