Phenna Group is pleased to announce the successful completion of a €180 million Term Loan B (TLB) add-on facility, strengthening its capacity to fund upcoming strategic acquisitions. The transaction also includes a repricing of the Group's existing Euro TLB, further enhancing financial efficiency across the business.
Despite ongoing volatility in the geopolitical landscape, the financing was met with strong demand and competitively priced, resulting in a meaningful reduction in the margin on the existing facility. The success of this transaction demonstrates sustained lender confidence in Phenna Group's robust performance and growth trajectory.
Proceeds from the financing, in combination with cash on the balance sheet and existing equity, will be deployed to fund Phenna's active near-term M&A pipeline. This marks the Group's third successful engagement with the European leveraged loan market since its debut in June 2024.
The deal underscores Phenna's growing reputation as a high-quality investment opportunity, supported by market-leading organic growth, strong margins, and a disciplined, strategic approach to acquisitions.
Phenna Group CEO, Phil Marshall, commented: "This financing milestone reinforces the confidence of our lending partners in our strategy and performance. It also provides us with a strong foundation to continue executing our acquisition plans and delivering value to all stakeholders. A huge thank you to Robert Rostas and the wider team for their outstanding work in making this happen."
Morgan Stanley and Goldman Sachs acted as Global Coordinators and Joint Lead Physical Bookrunners for the transaction, with JPMorgan serving as passive bookrunner.