Iofina secures new debt refinancing

September 2020 — 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.

Our role in the transaction

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

Synergia and Bolster have secured acquisition financing for Life & Mobility

Private Equity | Healthcare

Synergia and Bolster have secured acquisition financing for Life & Mobility

Synergia Capital Partners and Bolster Investment Partners have partnered with Life & Mobility, a leading Dutch developer and manufacturer of premium mobility and rehabilitation solutions. The partnership marks an important next step in Life & Mobility’s growth trajectory, focused on further international expansion, continued product innovation and strengthening its leading market position.

Learn more

Rapac Energy has completed an IPO

Energy

Rapac Energy has completed an IPO

Rapac Energy has completed an initial public offering (IPO) on the Tel Aviv Stock Exchange, raising approximately US$138 million to support the expansion of its renewable energy platform. The transaction strengthens the company’s capital base and positions Rapac Energy to accelerate the development of new projects, expand its operating portfolio in Israel and abroad and execute its long-term growth strategy.

Learn more

Roadside Real Estate has acquired D.A. Roberts Fuels

Consumer & Retail

Roadside Real Estate has acquired D.A. Roberts Fuels

Whitchurch-based D.A. Roberts Fuels Ltd., which was owned by Dave Roberts for 57 years, has been acquired by Roadside Real Estate plc. The acquisition is a strategic purchase for Roadside, a new entrant in the forecourt sector, as it continues to pursue its ambition to build a large-scale portfolio of modern energy forecourt and roadside retail assets across the UK.

Learn more