Kartesia provides €76m for Spanish refinancing

The refinancing will help Fertiberia to expand in Europe and develop more environmentally friendly products.

Kartesia has provided a unitranche loan of €76 million to refinance Spanish fertilizer producer Groupo Fertiberia.

The transaction was managed by Kartesia managing partner Jamie Prieto and associate Guillermo Ferre. The pair worked with Fertiberia’s management team and providers of existing syndicated loans to rework the company’s capital structure.

Fertiberia was formed in 1995 and provides fertilizer products in and around Iberia, with a focus on providing sustainable and environmentally friendly solutions. It generates revenues of more than €800 million and has a presence in Spain, Portugal, France and Algeria.

The refinancing will enable the team to take advantage of a pickup in fertilizer prices to grow the business and develop its range of sustainable products to grow market share across Europe.

Commenting on the deal, Prieto said: “We are very pleased to have partnered with Grupo Fertiberia and its historical bank lenders to support the Company as it builds on its strengths as an essential catalyst for more productive and sustainable agriculture.”

Last year, Kartesia completed fundraising for its fourth private debt offering, raising €870 million, making the fund 70 percent larger than its previous vehicle.

Ferre, who worked alongside Prieto on the refinancing, joined the Kartesia team in June last year alongside several new hires.