Urbaser Executes €2.7 Billion Syndicated Financing
Deal News | Jul 03, 2025 | Proskauer Rose (UK) LLP
Proskauer Rose (UK) LLP, an international law firm, has played a key advisory role in a significant syndicated financing transaction worth €2.7 billion for Urbaser, SAU, owned by Platinum Equity. The financing includes €800 million in senior secured notes from Urbaser's debut high-yield bond issuance, a €1.5 billion term loan B, and a €400 million revolving credit facility. The net proceeds will be used to repay Urbaser's existing term loan facilities and finance a shareholder distribution. Urbaser is a European environmental infrastructure company, primarily focused on waste collection and treatment services. Proskauer's team, led by partners Jake Keaveny and Courtland Tisdale, with contribution from associates in capital markets and global finance, facilitated the transaction, leveraging the firm's comprehensive industry expertise.
Sectors
- Environmental Services
- Legal Services
- Private Equity
- Financial Services
Geography
- United Kingdom – Proskauer Rose (UK) LLP, as the advising law firm, is based in the UK.
- Spain – Urbaser is headquartered in Spain and plays a significant role in the country's environmental services industry.
- Europe – Urbaser's operations and the financing transaction have broader implications for the European environmental services market.
Industry
- Environmental Services – Urbaser operates in the environmental services industry, focusing on waste collection and treatment services across Europe.
- Legal Services – Proskauer Rose, a law firm, provided advisory services for this complex financing transaction.
- Private Equity – Platinum Equity, as the owning private equity firm of Urbaser, played a key role in the financing transaction.
- Financial Services – The transaction includes financial instruments such as senior secured notes, term loans, and revolving credit facilities.
Financials
- €2.7 Billion – Total value of the syndicated financing transaction for Urbaser.
- €800 Million – Value of senior secured notes in the high-yield bond issuance.
- €1.5 Billion – Value of the term loan B.
- €400 Million – Value of the revolving credit facility.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Urbaser, SAU | Target Company | Company | A Spanish environmental infrastructure company focused on waste management services and the recipient of the financing. |
| Platinum Equity | Owner/PE Firm | Company | The private equity firm that owns Urbaser and influenced the financial restructuring. |
| Proskauer Rose (UK) LLP | Legal Advisor | Company | The law firm advising on the syndicated financing transaction. |
| Jake Keaveny | Partner | Person | A partner at Proskauer, leading the advisory team for this transaction. |
| Courtland (Court) Tisdale | Partner | Person | A partner at Proskauer, co-leading the transaction advisory. |