OCI N.V.’s $1.15 Billion Senior Secured Bond Offering and Establishment of $1.1 Billion Senior Credit Facilities

Global law firm White & Case LLP has advised J.P. Morgan, HSBC and Barclays, as global coordinators, and Merrill Lynch International, BNP Paribas, Citigroup, Crédit Agricole, Goldman Sachs, Rabobank and Société Générale, as joint bookrunners, on the Rule 144A/Regulation S debut offering of $1.15 billion (equivalent) senior secured notes due 2023 by OCI N.V.

OCI N.V. is a Netherlands-based global producer and distributor of natural gas-based fertilizers and industrial chemicals, listed on the Euronext Amsterdam stock exchange with a market capitalization of €4.2 billion. The notes, which were issued on April 26, 2018, comprise US$650 million 6.625% senior secured notes due 2023, and €400 million 5.000% senior secured notes due 2023.

Concurrently with the notes offering, White & Case advised the mandated lead arrangers on the establishment of US$1.1 billion (equivalent) senior credit facilities for OCI N.V., comprised of a term loan facility in an amount of up to US$400 million (denominated in euros), and a multicurrency revolving credit facility of up to US$700 million.

The proceeds from the sale of the notes, together with borrowings under the senior credit facilities, were used by OCI N.V. to refinance certain existing facilities and to repay certain outstanding shareholder debt.

The White & Case team which advised on the transaction included partners Rob Mathews (Picture), Jill Concannon, Martin Forbes, James Greene, Richard Pogrel (all London) and Ray Simon (New York), association partner Tarek Mohanna (Cairo) and associates Shameer Shah, Julian Brun, Anna Soroka, Neha Saran, Nigela Houghton, Marissa Florio and Michael Byrd (all London).


Involved fees earner: Rob Mathews – White & Case; Jill Concannon – White & Case; James Greene – White & Case; Richard Pogrel – White & Case; Anna Soroka – White & Case; Marissa Florio – White & Case; Michael Byrd – White & Case; Martin Forbes – White & Case; Tarek Mohanna – White & Case; Shameer Shah – White & Case; Julian Brun – White & Case; Raymond Simon – White & Case;

Law Firms: White & Case;

Clients: Barclays Bank; BNP Paribas; Citigroup Inc.; Credit Agricole; Goldman, Sachs & Co.; HSBC; JP Morgan; Merrill Lynch, Pierce, Fenner & Smith Incorporated; Rabobank; Société Générale; Merrill Lynch International;