Dubai International Capital successfully refinances three companies in transactions totaling $3 billion

31st May 2013

Dubai, United Arab Emirates: Dubai International Capital LLC (‘DIC’), the private equity arm of Dubai Holding, today announces the successful completion of three major refinancing transactions totalling $3 billion. Together these show DIC to be one of the most active sponsors in the leverage loan market in recent months. The refinancing transactions are an important part of putting each business on a stronger financial footing and supporting long term growth.

In May 2103 MAUSER AG (‘MAUSER’) reached agreement with its lenders to amend and extend its €700 million ($890 million) loan facility. The company now has a more efficient capital structure and can build on its global market-leading position. Since 2009, MAUSER has seen its revenues grow by a compound annual growth rate of 12%. Headquartered in Germany, MAUSER, is a worldwide leader in industrial packaging. DIC bought a majority stake in MAUSER in June 2007.

In April 2013 The Doncasters Group’s (‘Doncasters’) successfully completed the refinancing of its whole $1.2 billion lending structure; one of the largest refinancings in the UK in recent years. The transaction reduced the company’s cost of debt significantly with around £8 million of annual interest savings and extends the debt maturity profile of the Company by up to 5 years. The refinancing provides Doncasters with a stronger financial footing to capitalise on growth opportunities. Doncasters is a UK-based global precision engineering group. DIC bought a majority stake in the Company in May 2006.

In October 2012, DIC assisted Dubai Aerospace (DAE), in which it has a 12% shareholding, in regards to the restructuring of Standard Aero’s first lien term loan and liquidity facility. StandardAero is a wholly-owned subsidiary of DAE and the world’s largest independent small gas turbine engine and accessory repair and overhaul facility.

David Smoot, Chief Executive Officer of DIC, commented: “We have been extremely active in the mid-size leverage loan market working closely with each of these companies to support their refinancing transactions. We are pleased to have been able to secure strong support from the international investment community and this underlines the fundamental strength of the businesses and their growth prospects. MAUSER and Doncasters have both experienced strong improvements in trading and now with stronger balance sheets are well positioned for sustained long-term growth.”

About Dubai International Capital LLC:
Dubai International Capital LLC is a private equity investment company established in 2004 as a wholly owned subsidiary of Dubai Holding. DIC’s private equity portfolio includes market-leading companies in Europe and the Middle East including; Almatis, Doncasters, Mauser and Rivoli.