In 2024, SigmaRoc completed a transformative acquisition of CRH plc’s European lime and limestone assets. This was partly funded with an all-bank debt package, including a €125 million bridge loan.
Through 2024 the Company and PGIM discussed options to refinance the bridge loan. As a result of the existing bank facility structure, we concluded that the most efficient approach would be to purchase the bridge loan from the bank lenders and amend the loan to reflect Private Placement market commercial terms, set a fixed interest rate and extend the maturity to a five-year bullet.
This creative solution allowed SigmaRoc to execute its first Private Placement, successfully diversifying its funding sources and extending its debt maturity profile, but without requiring any major consents or amendments to other bank debt agreements.
SigmaRoc's management chose to work with us due to our ability to (i) provide the full funding requirement in a creative and innovative structure, (ii) achieve the Company’s objectives of diversifying and extending its debt capital structure, and (iii) their desire to work with a relationship-focused provider with the ability for follow-on funding.
