Messer has refinanced the remaining €500m of an acquisition loan tied to its purchase of all shares in Messer Industries.
The news follows the industrial gas giant having used short-term loans of $900m and €1.45bn to buy shares in Messer Industries from minority owner CVC Capital Partners in November 2023.
Read more: Messer completes full takeover of joint venture Messer Industries
Most of the loans were refinanced earlier in 2024 through private placements in March and promissory notes in July, leaving only €500m to be addressed.
Messer secured an additional €272m in private placements with tenors of 10 and 12 years. Additionally, Schuldscheindarlehen (promissory notes) with tenors of three and five years were issued for a total amount of €200m. The remaining amount was repaid from available liquidity.
Helmut Kaschenz, Chief Financial Officer of Messer, said the company is pleased that it was able to refinance the acquisition debt on a long-term basis and in full within one year.
“The successful issuance of US private placements and Schuldscheindarlehen by md-year was the basis on which we are now able to implement the last step of our take-out strategy.”
He added that the repayment provides further flexibility to support Messer’s future growth.
Messer’s take-over of Messer Industries
When it announced its take-over of Messer Industries last year, Messer said the transaction was part of an overarching plan to bring together its global activities under one roof to implement a sustainable growth strategy as an integrated gases specialist.
The acquisition also marked the end of the partnership between Messer and CVC Capital Partners (CVC) on the previous joint venture, which comprised Messer’s companies in North and South America in addition to Western Europe.
At the time, Messer’s CEO Bernd Eulitz, described the opportunity as a new chapter.
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