Bank of Ireland Corporate Banking is delighted to have acted as Mandated Lead Arranger in supporting C&C Group Plc in their recently completed €600m refinance. C&C Group Plc is a leading manufacturer, marketer and distributor of branded cider, beer, wines, spirits and soft drinks. C&C brands include Bulmers, Tennent’s and Magners, as well as a range of super-premium and craft ciders and beers.
The refinance and enlargement of C&C’s syndicated bank facilities comprises a 5 year multi-currency €450m Revolving Credit Facility (“RCF”) and a 3 year €150m Term Loan. The new facilities incorporate an accordion option to increase the RCF by a further €100m and an option to extend the maturity date by a further year in order to provide greater flexibility to the company in support of their future growth plans.
Commenting on the transaction, Eoin McGuinness, Senior Director at Bank of Ireland said: “We are delighted to continue our support to C&C Group Plc following the enlargement of their syndicate bank facilities. We look forward to building on our long standing relationship and wish them continued success in the future.”
Jonathan Solesbury, Chief Financial Officer of C&C Group commented on the new facilities: “This transaction secures increased facilities for the enlarged Group with both the flexibility and scope to meet our long term corporate objectives. Following the significant strategic developments we have made, it was pleasing to agree increased commitments on attractive terms from our long standing banking partners, such as Bank of Ireland, as well as new lenders to the syndicate.”