Noerr advises banking consortium on financing of the Recylex Group

Noerr has advised a banking consortium on the financing of the German subsidiary of the French Recylex Group. The banks are providing the German subsidiary of the listed French recycling group with €67 million.

The financing package includes a €40 million investment in a new reduction furnace in the lead segment. The new reduction furnace is to recover internally the lead and silver contained in certain by-products from the smelter. Recylex expects to create around 30 new jobs at the Weser-Metall GmbH subsidiary and to increase the Recylex Group’s annual lead production by approximately 30,000 tonnes. The other funds provided by the banks are used mainly to finance working capital.

The banks were advised by a Noerr team led by the Frankfurt partners Andreas Naujoks and Dr Nikolai Warneke. Noerr’s finance team which consists of more than 20 experts advises banks, insurance companies, pension funds, financial service providers and companies comprehensively on financing transactions. Clients who regularly seek the advice of the Noerr finance practice include Deutsche Bank, UniCredit Bank, NordLB, BayernLB, Berenberg, Bayerische Versorgungskammer, Deutsche Postbank, Fresenius Medical Care or INEOS.

Advisors to the banking consortium: Noerr LLP

Andreas Naujoks and Dr Nikolai Warneke (joint lead, both Banking & Finance, Frankfurt); Dr Thomas Hoffmann (Restructuring & Insolvency, Frankfurt), Dr Jens Kunz (Banking Regulatory, Frankfurt), Hans-Christian Mick, Doreen Pape (all Banking & Finance, Frankfurt).