INOVYN’s €775 Million Senior Secured Term Loan Facility and €300 Million High‑Yield Senior Secured Notes Offering
May 13, 2016
Cravath represented INOVYN Finance plc, a subsidiary of the INOVYN joint venture owned by subsidiaries of INEOS AG and Solvay SA, as borrower in connection with the arrangement of a €775 million senior secured term loan facility agreement, arranged by a syndicate of banks led by JPMorgan Chase Bank, N.A., and as issuer of €300 million 144A/Reg. S high‑yield senior secured notes. INOVYN is a leading player in the production of polyvinyl chloride, chlorinated paraffins, epichlorohydrin, caustic soda and caustic potash in Europe, which are used in a variety of end markets. The proceeds were used to refinance existing debt, to finance the exit of Solvay SA from the joint venture, which, subject to regulatory approval, will leave INEOS AG the sole shareholder of INOVYN, and to pay fees and expenses related to the foregoing. Application has been made to list the notes on the Luxembourg Stock Exchange. The transactions closed on May 13, 2016.
The Cravath team included partner Tatiana Lapushchik and associates Jennifer Uren, Matthew C. Young and Peter H. Webb on banking matters; partner Alyssa K. Caples and associates Peter B. Weston, Giorgio Ignazzi and Lillian C. Bond on securities matters; partners J. Leonard Teti II and Christopher K. Fargo and associate Peter W. Rogers on tax matters; and senior attorney Annmarie M. Terraciano on environmental matters. Ashley May also worked on tax matters.
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J.D., 2000, Harvard Law Schoolcum laude
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B.A., 1997, Barnard Collegesumma cum laude
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J.D., 2000, Harvard Law Schoolcum laude
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B.A., 1997, Columbia UniversityPhi Beta Kappa, summa cum laude
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J.D., 2005, University of Virginia School of LawOrder of the Coif
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A.B., 1999, Princeton Universitywith Honors
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J.D., 2006, Columbia Law SchoolHarlan Fiske Stone; Michael Lynne Scholar
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B.A., 2003, Boston CollegeHonors Program, cum laude
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J.D., 1998, Columbia Law SchoolHarlan Fiske Stone Scholar
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M.S., 1994, University of Wisconsin - Madison
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B.A., 1989, Wellesley Collegecum laude
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