Financing of the acquisition of AS Graanul Invest by Apollo Global Management

  • Posted 05.11.2021

Elvinger Hoss Prussen provided legal advice to the initial purchasers in connection with a bond financing and the original lenders in connection with a senior secured revolving credit facility for the purpose of funding the acquisition by Apollo Global Management, Inc. of a majority stake in the Estonian company AS Graanul Invest, a world leading biomass and bioenergy producer.

The financing involved:

  • €250 million Floating Rate Sustainability-Linked Senior Secured Notes due 2026 and €380 million 4.625% Sustainability-Linked Senior Secured Notes due 2026 issued by Cullinan Holdco SCSp; and
  • a €100 million senior secured revolving credit facility.

The team was led by partner Patrick Santer, senior associate Jean-Baptiste Lhuillier and associate Nicolas Gilbert.