Iofina secures new debt refinancing

Iofina Plc has refinanced its entire debt by entering into a new loan agreement with First Financial Bank, (NASDAQ: FFBC), a Cincinnati-headquartered US regional bank.

Iofina is a vertically integrated company that specializes in the exploration and production of iodine and the manufacturing of specialty chemical derivatives. With operations in Kentucky and Oklahoma, Iofina’s strategy is to identify, develop, build, own and operate iodine extraction plants based on the company’s WET® IOsorb® technology.

Oaklins Cavendish’s debt advisory team, based in the UK, advised Iofina Plc. The team discussed this transaction with circa 40 domestic US lenders, and also initiated discussions with US non-bank lenders. This process was helped greatly by one of Oaklins’ teams in the US. Following on from these lengthy discussions, Iofina was extremely satisfied with the favorable terms secured with this new loan agreement with First Financial Bank.

Service

Funding, debt advisory & ECM

Parties

“The conclusion of the debt refinancing is a significant and positive step for Iofina and is the culmination of many months of hard work. The favorable terms of this refinance demonstrate how far Iofina has progressed in recent years, given that the company has significantly reduced debt, lowered debt interest rates and secured a strong lending bank partner. With its balance sheet significantly strengthened by the seven-year term loan in place coupled with the revolving line of credit for future growth, Iofina is focused on operational developments and expanding its production and chemicals product portfolio.”

Tom Becker

President and CEO, Iofina Plc

Talk to the deal team

Alistair Hay

Partner

London, United Kingdom
Oaklins Cavendish

View profile Get in touch

Krishan Raval

Director

London, United Kingdom
Oaklins Cavendish

View profile Get in touch

Related deals

HC Partners has successfully secured debt financing for the acquisition of West Friesland Dakbedekkingen

Private Equity | Construction & Engineering Services

HC Partners has successfully secured debt financing for the acquisition of West Friesland Dakbedekkingen

Dutch private equity firm HC Partners has formed a strategic partnership with West Friesland Dakbedekkingen B.V. (WFD). This marks HC Partners’ entry into the roofing sector, with plans to build a national platform of regional roofing specialists.

Learn more

Ecosun Expert has been acquired by TSG Group

Energy

Ecosun Expert has been acquired by TSG Group

The successful acquisition of Ecosun Expert by TSG Group has been completed.

Learn more

Caja 18 successfully completed a US$42 million corporate bond placement

Financial Services

Caja 18 successfully completed a US$42 million corporate bond placement

Caja 18 successfully completed a placement of US$42 million (1,100,000UF) in corporate bonds on the local capital market. The bonds, with a 7-year term, semi-annual amortizations and a duration of 3.87 years, were secured by social credit guarantees. The proceeds will be used to finance Caja 18’s social credit program and refinance previously contracted liabilities for the same purpose. As part of this refinancing plan, Caja 18 also completed the voluntary early repurchase of its Series A bonds.

Learn more