Unifrutti Financing PLC’s €140 Million 7.5% Cash Interest and Senior Secured Amortizing Notes

Milbank LLP advised Unifrutti Financing PLC on the transaction

Milbank LLP has advised Unifrutti Financing PLC, a subsidiary of Unifrutti International Holdings Limited, in connection with its debut offering of €140 million 7.5% Cash Interest and Senior Secured Amortizing Notes due 2026 to a well-known institutional investor and on a senior secured revolving credit facility.

Founded in 1948, the Unifrutti group is one of the world’s leading producers, marketers and distributors of fresh fruit. The group is among the world’s largest producers and distributors of bananas, apples, grapes, pears, cherries, lemons and other citrus, which they grow or source primarily in Chile, South Africa, the Philippines and Europe.

The Notes were entirely placed with a well-known institutional investor and represent the first foray in the international capital markets by Unifrutti. The gross proceeds of the Notes and drawings under certain facilities in the Philippines, will be used, among other things, to discharge certain outstanding financial debt and to fund expansion projects.

The Milbank team was led by London Capital Markets/ Leveraged Finance partners Apostolos Gkoutzinis (Picture) and Suhrud Mehta, with special counsel Ana Grbec and associates Andrew Bechtel, Felipe Lima, Anastasia Kontaxi, Sarah Findlay and Stephanie Colquhoun. The team also included New York Tax partner Andrew Walker and associate Archan Hazra and Washington, DC associates Lafayette Greenfield and Sean Heiden.

Involved fees earner: Andrew Bechtel – Milbank; Stephanie Colquhoun – Milbank; Sarah Findlay – Milbank; Apostolos Gkoutzinis – Milbank; Ana Grbec – Milbank; Lafayette Greenfield II – Milbank; Archan Hazra – Milbank; Sean Heiden – Milbank; Anastasia Kontaxi – Milbank; Felipe Lima – Milbank; Suhrud Mehta – Milbank; Andrew Walker – Milbank;

Law Firms: Milbank;

Clients: Unifrutti Financing PLC;