Comeback kid Röhm lines up par refi

roehm company 575
By Owen Sanderson
08 Apr 2021

Röhm, the renamed Evonik Specialty Chemicals, is back in the market looking to refinance its 2026 €997m term loan 'B' near par, following a surprisingly strong performance through 2020.

Syndication of the original buyout loan in 2019 was botched, with investors balking at what they saw as an overly cyclical business marketed on aggressive leverage multiples.

GSO had originally offered a staple financing to support Advent’s acquisition of the unit from the parent Evonik, which would ...

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