{"id":11002,"date":"2026-01-06T09:02:03","date_gmt":"2026-01-06T14:02:03","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=11002"},"modified":"2026-01-06T09:02:03","modified_gmt":"2026-01-06T14:02:03","slug":"lecta-enters-lockup-deal-to-support-e400m-debt-restructuring","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=11002","title":{"rendered":"Lecta\u00a0enters lockup deal to support \u20ac400m debt restructuring"},"content":{"rendered":"


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Under the recapitalisation, Lecta is set to reduce its debt burden by roughly \u20ac400m. Credit: MY STOCKERS \/ Shutterstock.com. <\/figcaption><\/figure>\n<\/p><\/div>\n

Spain-based\u00a0Lecta and key stakeholders have entered\u00a0a lockup agreement that commits parties to supporting a recapitalisation of the company.<\/p>\n

The agreement provides the necessary support for Lecta to move forward with its debt restructuring plans.<\/p>\n

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Under the recapitalisation, the company is\u00a0expected\u00a0to reduce its debt burden by approximately \u20ac400m ($468.4m).<\/p>\n

This would bring the company\u2019s net leverage ratio to below 3\u00d7 on a pro forma basis and also includes provisions for up to \u20ac100m in new financing dedicated to the specialities unit.<\/p>\n

These funds are\u00a0designated\u00a0for operational changes and working capital needs within that unit.<\/p>\n

Lecta CEO Gilles Van\u00a0Nieuwenhuyzen\u00a0said: \u201cWe are\u00a0very pleased\u00a0that Lecta now has the support from its key financial stakeholders to move towards implementation of the recapitalisation.<\/p>\n

\u201cThe significantly de-levered capital structure and new liquidity will provide Lecta with a stable financial footing to facilitate the group\u2019s ongoing transformation process and enable the management team to focus on delivering best-in-class paper products to our customers and cost competitiveness.\u201d<\/p>\n

Lecta expects the measures to cut cash interest expenses and improve cash flow.<\/p>\n

The recapitalisation is also intended to finalise the group\u2019s transition into a structure where business units are managed and financed independently.<\/p>\n

The lockup agreement enables Lecta to obtain \u20ac20m\u00a0in interim liquidity from stakeholders while the broader restructuring takes place.<\/p>\n

The\u00a0interim financing is\u00a0anticipated\u00a0to support operations as the company works towards closing the recapitalisation, which is expected by the first quarter of 2026.<\/p>\n

Lecta\u00a0chairman Javier Abad Marturet\u00a0commented: \u201cWe are grateful for the continued support of our key stakeholders and their strong commitment to Lecta. <\/p>\n

\u201cThis milestone\u00a0represents\u00a0an important step\u00a0toward securing a sustainable, long-term solution for the group. We look forward to working closely with our stakeholders to support execution of the group\u2019s strategy and unlock its full potential.\u201d<\/p>\n

Last month, Lecta\u00a0introduced\u00a0Metalvac\u00a0Ice Cream<\/a>, a recyclable metallised paper designed for use in flexible packaging for ice cream and frozen foods.<\/p>\n

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