Isoclima is a global leader in the production of high-performance glass and transparent solutions, with production plants in Europe, Mexico and the US. The recent acquisitions are aimed at strengthening Isoclima’s position in the field of ballistic transparencies, as well as expanding into a new market segment and establishing local production capabilities in a region that is key to achieving the group’s growth targets.
The proceeds of the initial notes have also been used to refinance certain financial indebtedness of the issuer, while future taps will support further acquisitions and investments. Upon issuance, the notes have been admitted to trading on the Vienna Stock Exchange.
BNY Mellon acted as paying agent, notes trustee, and security agent in respect of the notes, while Crédit Agricole Friuladria provided a super senior revolving credit facility to Isoclima.
The Ashurst cross-border team was led by Milan banking partner Mario Lisanti, supported by Luca Chieffo (counsel). Milan-based tax partner Michele Milanese advised Barings on the Italian tax aspects of the transaction. English law advice was provided by a Madrid-based team composed of Nick Pawson (partner), Sam Tetlow (senior associate), and Fátima Nieto (associate), while US law advice was provided by a NY-based team composed of Michael Neary (partner), Matt Haist (counsel), and Nathan Huynh (associate), as well as by London-based US securities partner Jeffrey Johnson. Banking partner Fabien Debroise advised on the Luxembourg aspects of the deal, supported by Anna Kozakiewicz (associate).
A separate Ashurst team, led by London-based partner Malcolm Charles and Milan-based counsel Annalisa Santini, advised BNY Mellon.
