Kramer Levin Advises OFI Group in Relation to Setting Up of Moret Industries Group’s Euro PP Private Bond Placement

Moret Industries Group set up a private bond placement (Euro PP) for a total amount of €25M, comprising of a 6.5-year €21M secured and pari passu with the bank debt and of a €4M unsecured bond placement. The Euro PP was completed with five investors in France and Belgium, including the OFI Group as main investor and Représentant de la Masse.

As a reminder, the industrial group had already strengthened its debt / equity ratio in July 2014 including through a refinancing of its bank debt through a new corporate amortising loan for €20M together with a €35M Revolving Credit Facility.

This operation allowed the group to generate sustainable short-term financing, to diversity, lengthen the duration and increase the flexibility of its financing while anticipating the financing of its business plan that will include targeted external growth. Banking and Finance partner Hubert de Vauplane and Corporate associate Ramona Tudorancea advised the OFI Group in this transaction.