Keystone Law’s corporate team has advised AIM-quoted Iofina plc (AIM: IOF) in connection with the recent restructuring of its secured debt facilities.
Led by Simon Holden, the team assisted the company on the deal which was composed of loan notes and a term loan facility totalling, in aggregate, approximately $25.6 million.
Iofina specialises in the exploration and production of iodine, halogen-based specialty chemical derivatives and produced water. Its business strategy is to identify, develop, build, own and operate iodine extraction plants currently focused in North America, based on its WET® IOsorb® technology.
Tom Becker, CEO and President of Iofina, commented:
“We are delighted to announce the completion of the debt restructuring documentation. Extension of the debt’s maturity will enable us to continue with our growth strategy, as we seek to take full advantage of the positive conditions in the global iodine market, and build our position as one of the industry’s best operators. We are very grateful to Simon for his solid counsel and his unwavering dedication in assisting us over the years.”
Simon added: “I am delighted to have assisted the Iofina team on this transaction. It is a great company populated throughout with great people, and is deserving of success. The hope is that the debt restructuring, in conjunction with the continued improvement in the global iodine market, will see the company go from strength to strength in 2019 and beyond.”
Keystone’s corporate capabilities include one of the largest all-senior offerings in the UK comprising 50 partner-level lawyers.