Ashurst has advised Oriflame Holding AG, a leading beauty company selling direct in more than 60 countries, in relation to its new €160 million revolving credit facility provided by HSBC, ING, BBVA, BNP Paribas and UBS.
The new five-year facility (with two one-year extension options at the banks’ discretion) replaces the group’s existing €110 million Facility (signed in April 2015). The facility will be used for general corporate purposes, primarily to cover for quarterly cash flow fluctuations within the calendar year.
The Ashurst banking team was led by partner Nicholas Moore (picture), assisted by senior associates Briony Holcombe and Giorgia Sosio de Rosa. Corporate partner Isabelle Lentz, assisted by counsel Paul Witte, provided Luxembourg law advice. Disputes partner Tom Cummins also advised.
Law Firms: Ashurst;
Clients: Oriflame Cosmetics;