Shearman & Sterling Advises ICIG on Export Credit Financing
Shearman & Sterling has advised International Chemical Investors Group (“ICIG”) in connection with an export credit facility and a further credit facility of more than €50 million for its subsidiary VYNOVA Belgium B.V. (“VYNOVA”).
The VYNOVA assets constitute a set of integrated chemical supply chains, from salt to PVC. The acquisition of VYNOVA in August 2015 enabled ICIG to strategically grow its chemical and pharmaceutical business. The financing will be used for the construction of a potassium hydroxide (KOH) production facility at VYNOVA’s headquarter in Tessenderlo, Belgium.
International Chemical Investors is a privately owned industrial group that encompasses operating companies in the chemical and pharmaceutical industry with sales in excess of €2 billion. Shearman & Sterling has previously advised ICIG on the refinancing of the CordenPharma in May 2016.