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Harneys advises on Vision Capital acquisition of Brazil manufacturer

3 November 2010

Harneys advised US Bank National Association as trustee and collateral agent for the Noteholders in relation to the September 2010 acquisition of Brazilian manufacturer Terphane by the UK private equity firm Vision Capital.
 
Senior Associate Angelene Galway advised on the Cayman Law Share Charge and Guarantee given by Terphane Acquisition Corp. (TAC) regarding the restructuring of Loan Notes issued by Terphane Holding LLC and TAC, and generally on the restructuring documents entered into by TAC.
 
The investment valued Terphane at US$100 million and was announced in conjunction with the opening of Vision’s New York office. Terphane is a Sao Paulo based manufacturer of plastic and metallic films and foils for food packaging and industrial products.
 
Faegre & Benson who also advised the trustee. Paul Weiss advised the target group and Ropes & Gray advised the noteholders.