Itelyum Secures €825 Million Refinancing with Paul Hastings' Assistance
Deal News | Apr 09, 2025 | Paul Hastings
In a strategic move to bolster its financial standing and position in the circular economy, Itelyum has successfully closed an €825 million refinancing deal. The refinancing includes the issuance of €725 million in senior secured notes with a 5.75% interest due by 2030. Additionally, a new revolving credit facility amounting to €100 million was established, supported by initial purchasers’ affiliates. This financial restructuring, advised by Paul Hastings LLP, aims to refinance Itelyum's existing debts and reinforce its balance sheet with additional cash. Paul Hastings LLP, a premier global law firm, enacted its elite capabilities, involving partners Patrick Bright, Reena Gogna, and Giorgia Sosio de Rosa, among others. The refinance reflects a significant reinforcement of Itelyum's financial resources, facilitating its commitment to recycling complex hazardous waste, backed by its ownership under Stirling Square Capital Partners.
Sectors
- Finance
- Recycling and Waste Management
- Legal Services
Geography
- Europe – Itelyum is a leading player in the European circular economy sector, indicating its geographical base and operational focus.
Industry
- Finance – The article describes a significant refinancing transaction involving issuance of senior secured notes and a revolving credit facility.
- Recycling and Waste Management – The company Itelyum is noted for its contributions to the circular economy, specifically in recycling complex streams of hazardous waste.
- Legal Services – Paul Hastings LLP played a central role as a legal advisor in facilitating the refinancing deal for Itelyum.
Financials
- €825 million – Total refinancing amount including €725 million in senior secured notes and a €100 million revolving credit facility.
- €725 million – Amount of senior secured notes issued with a 5.75% interest rate, due in 2030.
- €100 million – New revolving credit facility provided by certain affiliates of the initial purchasers.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Itelyum | Target | Company | Itelyum is a European company specializing in the recycling of complex streams of hazardous waste and a portfolio company of Stirling Square Capital Partners. |
| Stirling Square Capital Partners | Selling Company | Company | Stirling Square Capital Partners is the parent company of Itelyum, backing its operations and growth strategies. |
| Paul Hastings LLP | Legal Advisor | Company | Paul Hastings LLP is a global law firm that advised Itelyum on its €825 million refinancing deal. |
| Patrick Bright | Partner - Global Finance | Person | Patrick Bright is a partner in the Global Finance team at Paul Hastings LLP, leading the legal advisory for Itelyum's refinancing. |
| Reena Gogna | Partner - Global Finance | Person | Reena Gogna is a partner involved in the legal advisory team for Itelyum's refinancing at Paul Hastings LLP. |
| Giorgia Sosio de Rosa | Partner - Global Finance | Person | Giorgia Sosio de Rosa is a partner in Paul Hastings' Global Finance team. |