Cory Environmental Hires Rothschild for Debt RefinancingKiel Porter
The owners of London-based waste and recycling group Cory Environmental ltd. hired investment bank Rothschild to consider refinancing 280 million pounds ($467 million) in debt, the company said in an e-mailed statement.
Cory’s owners, which include Eiser Infrastructure Ltd., Finpro SGPS and Santander Private Equity, bought the company for 588 million pounds in 2007 from London-based buyout firm Montagu Private Equity LLP. In a refinancing, companies typically extend the life of their existing loans in exchange for a fee or replace them with new borrowings.
Cory provides municipal waste collection and recycling, processing 3.5 million tons of garbage and recyclables a year. It employs more than 1,400 people, according to the firm’s website.
Spokesmen for Eiser and Rothschild declined to comment, while spokesmen for Finpro and Santander didn’t respond to e-mail and telephone requests for comment.