Titanox bank press release final.doc - Commerzbank ...
Titanox bank press release final.doc - Commerzbank ...
Titanox bank press release final.doc - Commerzbank ...
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Press <strong>release</strong><br />
5 March 2007<br />
Commerz<strong>bank</strong> Corporates and Markets and UBS Investment Bank act<br />
as joint Mandated Lead Arrangers, Underwriters and Bookrunners of<br />
the EUR 500 million debt package supporting the acquisition of Oxea<br />
Group by Advent International<br />
Commerz<strong>bank</strong> Corporates and Markets and UBS Investment Bank announced today that they are acting<br />
as joint Mandated Lead Arrangers, Underwriters and Bookrunners of the debt package supporting the<br />
acquisition of Oxea Group by Advent International (“Advent”), comprising Celanese Corporation’s oxo<br />
products and derivatives businesses together with European Oxo GmbH (“EOXO”), a joint venture<br />
between Celanese AG and Degussa AG. The transaction was closed and funded on February 28 th 2007.<br />
The transaction encompasses oxo and derivative businesses at Celanese’s Oberhausen (Germany) and<br />
Bay City (Texas) facilities as well as portions of its Bishop (Texas) facility. EOXO’s facilities within the<br />
Oberhausen and Marl (Germany) plants are also included in the acquisition. As part of the transaction,<br />
Celanese will transfer all of the EOXO business to Advent, including Degussa’s 50 percent interest of the<br />
venture.<br />
The debt financing of EUR 500 million consists of Senior Priority and Second Lien Facilities. Further<br />
details on structure, terms and conditions of the financing have not yet been <strong>release</strong>d. Debt syndication is<br />
expected to begin shortly.<br />
ENDS<br />
For further information, please contact:<br />
Commerz<strong>bank</strong> Corporates and Markets<br />
Lucy Gray, Leveraged Finance London +44 20 7469 3910<br />
Sean Costello, Loan Distribution London +44 20 7469 3924<br />
Claire Tappenden, Corporate Communications +44 20 7653 7958<br />
UBS Investment Bank<br />
Jonathan Macdonald, Head of Global Syndicated Finance +44 20 756 86929
Notes to Editors<br />
Commerz<strong>bank</strong> Corporates and Markets<br />
Commerz<strong>bank</strong> Corporates and Markets (CBCM) is the integrated Corporate and Investment Banking<br />
division of Commerz<strong>bank</strong> AG.<br />
CBCM provides a broad range of Commercial and Investment Banking products to corporate and<br />
institutional clients. The business incorporates capital markets activities in credit, equities, interest rates<br />
and foreign exchange with a strong focus on derivatives and structured products.<br />
As a division of one of Germany’s leading financial institutions and with the backing of a Eur 608.3bn<br />
balance sheet (31.12.06) CBCM provides clients with capital and debt raising solutions and access to a<br />
broad range of investment and risk management products across all major asset classes