Hogan Lovells Advises syncreon on US$100M Bond Issue

LONDON, 8 January 2013 - Hogan Lovells advised syncreon Global Finance (US) Inc. and syncreon Global (Ireland) Limited on the completion of a US$100 million add-on bond offering of 9.5% notes due 2018 via sole lead J.P. Morgan, announced on 3 December 2012.

Michigan-based syncreon operates in over 20 countries worldwide, providing integrated-logistics services to global industries. This bond issue marks the logistics firm’s return to market almost three years since its debut with $300 million of the existing issue in May 2010. Ratings are B/B3 and the structure includes a first call in May 2014 and regular-way, at par plus 50% coupon.

The proceeds of the offering will support a dividend to the companies' owners and fund general corporate purposes.

Hogan Lovells acted as counsel to syncreon group's local subsidiaries in the UK, Germany, the Netherlands and Hungary and issued legal opinions in relation to the bond issue, in addition to advising the company on amendments to its existing banking facilities in order to, inter alia, accommodate the bond issuance.

The Hogan Lovells team advising syncreon was led by London corporate partner Amit Nayyar assisted by associate Suzy Penney. London private equity partner Tom Whelan, Amsterdam corporate partner Johannes Buntjer; Munich corporate partner Nikolas Zirngibl, Munich BRI partner Christian Herweg, Budapest partner Christopher Noblet and London finance partner Colin Craik also assisted, supported by Amsterdam corporate senior associate Mariette Swart, Munich corporate counsel Wolfgang Kircher, Munich BRI counsel Andreas Thun, Budapest trainee Sándor Békési and finance Of Counsel Katie Gill.

Commenting on the transaction, Amit said:

"We are delighted to have acted again for the syncreon group on this important strategic transaction."


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