Skadden on $665m loan to Interceramic
Skadden Arps Slate Meagher & Flom has advised the arrangers, lenders and administrative agent on a $665 million syndicated loan to Internacional de Cerámica (Interceramic).
The facility was split into a $600 million 18-month tranche and a $65 million 3-year revolving facility. The syndication was oversubscribed by 1.4 times the loan amount and had a final participation of more than 12 international and domestic banks. BBVA Mexico acted as Joint Lead Arranger & Bookrunner.
The loan proceeds were used in part for the purchase of shares through a public tender offer, with the objective of delisting the company from the Mexican Stock Exchange, as well as for the prepayment of a syndicated loan currently in place.
Interceramic specialises in the production and sale of glazed ceramic floor and wall tiles, as well as complementary products. Interceramic’s products are internationally recognised for their quality and innovation in design, as well as for the quality of service offered by the company.
Skadden’s team included partner Alejandro González Lazzeri (pictured), counsel Jose Nicolas Perez Sierra, associate Glen Strong and Latin America associate Jose Pablo Buenfil.
