Noerr advises KAP AG on extension of €96 million syndicated loan

A Noerr team led by Andreas Naujoks and Patrick Geist has advised KAP AG on a complex and successful refinancing by extending the existing syndicated loan agreement for €96 million. KAP AG is a listed mid-sized industrial holding company based in Fulda and operates in the core segments of flexible films, engineered products and surface technologies.

By agreeing to the refinancing package on 17 April 2026, KAP AG has taken an important intermediate step in its ongoing restructuring process. Drawdown of the syndicated loan is subject to certain conditions, in particular implementation of the measures outlined in the IDW S6 report.

This extension of the existing syndicated loan provides KAP AG with a stable financial framework to systematically address the areas for action referred to in the restructuring report and to improve the group’s profitability in the long term.

Noerr regularly assists clients with financial restructuring matters. Most recently, the firm advised the lenders to Varta AG and the Ziegler Group, amongst others, and also assisted lenders with the restructuring financing of BayWa r.e. AG and the insolvency of the Sprick Group.

Advisors to KAP AG: Noerr

Lead: Andreas Naujoks (partner, Frankfurt) and Patrick Geist (associated partner, both Banking & Finance, Frankfurt)

Banking & Finance: Paulina von Hülsen (associate), Jonas Strubel (associate, both Frankfurt)

Capital Markets: Julian Schulze De la Cruz (partner), Laurenz Wienecke (partner), Philip Schmoll (associated partner, all Frankfurt)

Tax: Andre Happel (partner), Thomas Renner (senior associate), Antonia Bach (associate, all Frankfurt)

M&A: Valentina Scheler (senior associate, Frankfurt)