Leonardo & Co. Advises Burgo Group

Leonardo & Co., in association with Houlihan Lokey, is pleased to announce that Burgo Group (Burgo) has completed a successful renegotiation of the main terms and conditions of its short-term credit lines, with the unanimous support of its lenders. The transaction closed on March 12, 2019.

Burgo is one of the leading producers of coated papers in Europe. With 11 manufacturing plants and a yearly production of approximately 2.1 million tons, Burgo is engaged in the production and distribution of a wide range of papers with a focus on the European market. Burgo is undergoing a transformation plan to enhance its market positioning, focusing on more profitable segments such as the specialties, uncoated woodfree paper, and containerboard sectors, including the conversion of its Avezzano and Verzuolo paper mills. Burgo generated more than €2 billion revenues and more than €130 million EBITDA in 2017.

The agreement reached with lenders includes a decrease in the overall amount of short-term credit lines, a two-year extension of the commitment, and a reduction of the cost.

Leonardo & Co., in association with Houlihan Lokey, served as the exclusive financial advisor to Burgo, assisting the client in structuring and negotiating every aspect of the deal, allowing Burgo to obtain the required capital structure with attractive pricing and flexibility. This transaction confirms the firm's long-standing relationship with Burgo, beginning in 2015 through the financial restructuring agreement with its lending banks.

VIEW ALL TRANSACTIONS

You are about to leave
Houlihan Lokey's website

The link below leads to a website that is not
owned by Houlihan Lokey.


Continue to the external website,
or
close the window to remain on HL.com