Food processing company Emsland Group has signed a €150m, five-year syndicated loan, which was arranged by co-ordinators and bookrunners DZ Bank and NordLB.
The deal has a two extension options of one year each, giving a maximum maturity of seven years. The loan will be used for general corporate purposes and to refinance existing debt.
Emsland was last in the market in 2014, when it raised a €185m, five-year deal with the same banks, according to Thomson Reuters LPC data.
Six other German banks joined the deal - Bayerische Landesbank, Commerzbank, HSBC Trinkaus & Burkhardt, and Landesbank Baden-Wurttemberg joined as mandated lead arrangers, and Grafschafter Volksbank eG and Kreissparkasse Grafschaft Bentheim zu Nordhorn are arrangers.
Emsland is Germany’s largest potato starch producer, and is also a global leader in manufacturing refined starch products, as well as fibres and potato flakes.
It makes products for the processing industry based on raw materials from vegetables (principally potatoes and peas). In the fiscal year 2016/17, Emsland processed 1,800,000 tons of potatoes and 130,000 of peas, generating revenues of €600m.