BenFox

Of Counsel

Amsterdam + 31.20.305.4216 London + 44.20.7039.5236

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Ben Fox has been at the heart of the Dutch loan market since 2001, where he has worked on a number of the largest and most complex financings. He has advised lenders (banks, funds, and alternative capital providers) and corporate borrowers on a wide range of loan products. As an English law qualified lawyer, many of Ben's deals have an international element, and he also has developed a significant Dutch domestic practice.

Ben's experience covers investment-grade corporate loans, acquisition financing, public bid financing, secured asset and real estate-backed lending, structured senior and mezzanine loans, trade and commodity financing, and bespoke debt structures for specific projects, with experience at the origination, refinancing, recapitalization, and restructuring stages of transactions.

Additionally, Ben has played a significant role in the development of the market standards for legal documentation for European private loan agreements.

Experience

  • ING Belgium and KBC Bank refinance Vydraulics groupJones Day acted as legal counsel to ING Belgium SA/NV and KBC Bank NV in connection with the refinancing of the Vydraulics group.
  • SmartSD enters into strategic partnership with CobepaJones Day advised SmartSD and its longstanding stakeholders Smile Invest, co-founders and management on a strategic partnership with new majority shareholder Cobepa, a leading European private equity company.
  • BNP Paribas, ING Belgium, and KBC Bank provide €420 million facilities to Agristo groupJones Day acted as legal counsel to BNP Paribas Fortis SA/NV, ING Belgium SA/NV, and KBC Bank NV in connection with the €420 million facilities provided to the Agristo group.
  • ABN AMRO, Belfius Bank, BNP Paribas, and KBC Bank establish €200 million facilities agreement with Mediahuis NVJones Day acted as legal counsel to ABN AMRO Bank N.V., Belfius Bank SA/NV, BNP Paribas Fortis SA/NV, and KBC Bank NV in connection with the establishment of a €200 million facilities agreement entered into with Mediahuis NV.
  • Belfius Bank, ING Belgium, and KBC Bank amend, increase, and extend existing financing to Equine Care GroupJones Day acted as counsel to Belfius Bank SA/NV, ING Belgium NV/SA and KBC Bank NV, as lenders, in connection with the amendment, increase, and extension of the existing financing granted to the Equine Care Group (an international provider of high-quality equine care through specialist equine clinics, ambulatory care and nutrition/supplements) for the purpose of, amongst others, acquiring the Irish company Thoroughbred Remedies Manufacturing Limited and the English company Equine Products U.K. Limited.
  • Mizuho Bank-led syndicate provides US$590 million sustainability linked revolving credit facility and amends and restates US$455 million sustainability linked revolving credit facility to Louis Dreyfus Company Suisse SAJones Day advised (i) a syndicate of 50 financial institutions, led by Mizuho Bank, Ltd., Paris Branch (with Rabobank as the facility agent), in connection with a new US$590 million sustainability linked revolving credit facility and (ii) in parallel, a syndicate of over 35 financial institutions in connection with the amendment and restatement of an existing US$455 million sustainability linked revolving credit facility, to Louis Dreyfus Company Suisse SA.
  • BNP Paribas Fortis, Belfius Bank, KBC Bank, and ING Belgium provide €400 million revolving credit facility to SD Worx GroupJones Day acted as legal counsel to BNP Paribas Fortis NV/SA, Belfius Bank NV/SA, KBC Bank NV, and ING Belgium NV/SA in connection with the amendment, restatement, and increase of the revolving credit facility originally dated April 4, 2022 from €250 million to €400 million granted to SD Worx NV.
  • Diebold Nixdorf obtains $1.25 billion senior secured exit credit facilityJones Day represented Diebold Nixdorf, Incorporated, a multinational financial and retail technology company that specializes in the sale, manufacture, installation, and service of self-service transaction systems (such as ATMs and currency processing systems), point-of-sale terminals, physical security products, and software and related services for global financial, retail, and commercial markets, in connection with a new $1.25 billion senior secured term loan facility as part of it’s emergence from chapter 11 bankruptcy and other domestic and foreign court-supervised restructuring proceedings.
  • Diebold Nixdorf successfully restructures over $2.7 billion in funded debt and completes the first-ever dual proceeding under the U.S. bankruptcy code and Dutch restructuring law in 71 daysIn the first-ever cross border restructuring involving dual main proceedings under chapter 11 of the U.S. Bankruptcy Code and a scheme of arrangement (the "Dutch Scheme") under the Dutch Act on Confirmation of Extrajudicial Plans (Wet Homologatie Onderhands Akkoord ("WHOA")), and the first-ever chapter 15 recognition of Dutch Scheme proceedings and a sanctioned WHOA reorganization plan (the "WHOA Plan"), Jones Day represented Diebold Nixdorf, Incorporated ("Diebold") and certain of its U.S. and Canadian subsidiaries (the "Debtors") in connection with (i) the prepackaged chapter 11 cases of In re Diebold Holding Company, LLC, et al., (Case No. 23-90602-DRJ) commenced on June 1, 2023, in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"); (ii) the Dutch Scheme, commenced on June 1, 2023 by Diebold Nixdorf Dutch Holding B.V. (the "Dutch Issuer") in the District Court of Amsterdam (the "Dutch Court"), and (iii) the chapter 15 proceedings before the Bankruptcy Court commenced by the foreign representative of the Dutch Issuer, wherein the Bankruptcy Court recognized the Dutch Scheme proceeding as a foreign main proceeding and recognized and extended comity to the WHOA Plan that was sanctioned by the Dutch Court.
  • Financial institutions provide financing for acquisition of AB&C GROEP B.V. by entity of EPSA GroupJones Day advised the financial institutions and some of their affiliates or related funds in relation to the financing of the acquisition of AB&C GROEP B.V. by an entity of the EPSA Group.
  • Sacyr Group and Marguerite Silver amend project Arlanzón finance documentsJones Day provided legal advice to consortium composed of Sacyr Group and Marguerite Silver in connection with the Spanish, English, and Dutch matters related with the modification and amendments of certain finance documents within the bond issuance scheme for project Arlanzón.
  • Syndicate of senior lenders finance Andera Partners' minority acquisition of, and refinance, Pauwels ConsultingJones Day acted as lenders' legal counsel in connection with the financing of the acquisition of a minority interest of Pauwels Consulting by Andera Partners and the refinancing of the Pauwels Consulting group.
  • Diebold Nixdorf obtains $1.25 billion senior secured superpriority DIP credit facilityJones Day is representing Diebold Nixdorf, Incorporated (the “Company”), a multinational financial and retail technology company that specializes in the sale, manufacture, installation, and service of self-service transaction systems (such as ATMs and currency processing systems), point-of-sale terminals, physical security products, and software and related services for global financial, retail, and commercial markets, and certain of its domestic and foreign subsidiaries (collectively, the “Debtors”) in (i) a pre-packaged chapter 11 proceeding in front of the U.S. Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”), (ii) a scheme of arrangement by Diebold Nixdorf Dutch Holding B.V. (the “Dutch Issuer”) and the related voluntary proceeding in front of the District Court of Amsterdam under the Dutch Act on Confirmation of Extrajudicial Plans (Wet Homologatie Onderhands Akkoord), and (iii) an anticipated proceeding commenced by the Dutch Issuer under chapter 15 in the Bankruptcy Court, seeking recognition of such scheme of arrangement.
  • Bank of Montreal provides $800 million reducing revolving credit facility to Nuvei TechnologiesJones Day represented the Bank of Montreal, as administrative agent and a lender, in connection with a $800 million reducing revolving credit facility provided to Nuvei Technologies, Inc., Pivotal Refi LP, and Nuvei Technologies Corp.
  • Belfius Bank and KBC Bank finance acquisition of Axi group by Strada PartnersJones Day acted as legal counsel to Belfius Bank NV/SA and KBC Bank NV in connection with the financing of the acquisition of the Axi group by Strada Partners.
  • Belfius Bank, ING Belgium, and KBC Bank refinance Customer Collective groupJones Day acted as legal counsel to Belfius Bank NV/SA, ING Belgium NV/SA, and KBC Bank NV in connection with the refinancing of the Customer Collective group.
  • Alternate investment firm obtains $100 million secured facilitiesJones Day advised a leading alternative investment firm in connection with a $100 million secured holdco back leverage facility secured against its interests in certain portfolio companies.
  • Avient acquires DSM Protective Materials businessJones Day advised Avient Corporation (NYSE: AVNT), a leading provider of specialized and sustainable material solutions, in the $1.485 billion acquisition and financing of Koninklijke DSM N.V.’s protective materials business, a leading specialty engineered materials business built around the invention of Dyneema®, the world’s strongest fiber.
  • SHV Energy forms joint venture with KEW Technology to develop renewable dimethyl ether (rDME) production plantsJones Day advised SHV Energy N.V. in the formation of a joint venture with KEW Technology to form Circular Fuels Ltd., which will leverage KEW's proprietary advanced gasification technology to develop renewable dimethyl ether (rDME) production plants worldwide. Circular Fuels Ltd was set up by SHV Energy and KEW Technology with the intention of being transferred to SHV Energy and UGI International's industry joint venture as soon as that is established.
  • U.S. Steel closes €300 million sustainability linked revolving credit facilityJones Day advised U.S. Steel Košice, s.r.o., a wholly owned subsidiary of United States Steel Corporation and one of the largest integrated steel producers in Central Europe, on its entry into a €300 million sustainability linked revolving credit facility with a syndicate of lenders led by ING Bank N.V.
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