Matthias Bochum's practice focuses on cross-border leveraged acquisition finance, corporate finance and financial restructurings. In the recent years he has worked on an impressive list of high-profile transactions including the €1.5 billion leveraged buyout of Senvion SE by Centerbridge Capital Partners, the €1.28 billion refinancing of the acquisition of Grohe Group and the refinancing of Xella International.
Matthias is also advising clients on the refinancing and restructuring of ship financings. He is a member of our Global Maritime Practice, a cross-border and cross-practice group of more than 100 lawyers, which is focused on advising clients in the shipping industry. In 2012, Matthias spent three months on secondment to the legal team at Deutsche Shipping, the ship finance operation of Deutsche Bank.
Prior to joining White & Case in 2007, Matthias worked as a legal trainee with the Canadian-German Chamber of Industry and Commerce in Toronto, Canada, as well as for a major US law firm in New York.
Matthias advised a banking syndicate led by Deutsche Bank AG and J.P. Morgan on the complex €1.5 billion leveraged buyout of Senvion SE by Centerbridge Capital Partners. The deal was completed through a complex financing package consisting of a secured €125 million multicurrency revolving credit facility, a secured €825 million multicurrency letter-of-guarantee facility, a secured €180 million super senior cash liquidity facility, as well as a €400 million high-yield bond. The bond has a coupon of 6.625 percent with a maturity date of 2020. The issuance of the senior secured notes listed on the Irish Stock Exchange commenced on April 24, 2015.
Matthias advised Bank of America, N.A. and Credit Suisse (USA) LLC, as joint lead arrangers and joint bookrunners, and Bank of America, N.A., as administrative agent, in connection with the acquisition of Mavenir Systems, Inc. by Mitel Networks Corporation. Proceeds from the term loans were used to finance the acquisition of all the outstanding stock of Mavenir and to refinance outstanding debt and to pay related fees and expenses.
Matthias advised a consortium of banks, with UniCredit Bank AG, London branch as agent, in connection with the refinancing of a portion of Xella International S.A.'s (Xella) outstanding indebtedness. The refinancing was structured as an offering of €300 million aggregate principal amount of senior secured notes due 2018 by Xefin Lux S.C.A. (the issuer), a financing vehicle established for this purpose. The proceeds of the notes were used to fund a new facility under Xella's existing senior facilities agreement.
Matthias advised The Bank of Tokyo-Mitsubishi UFJ, Ltd, Sumitomo Mitsui Banking Corporation and Mizuho Bank, Ltd on the €1.28 billion refinancing of the debt provided to the LIXIL Corporation and the Development Bank of Japan Inc. for their joint acquisition of 87.5 percent of the share capital in GROHE Group S.à r.l.. The landmark acquisition, which has an implied enterprise value of more than €3 billion, was completed in January 2014 and represents the largest ever German investment by a Japanese company at that time.
Matthias advised a bank consortium including CIBC, Crédit Agricole CIB, ING Bank, SEB AG and Scotia Bank as arrangers on the financing of the acquisition of Erdgasversorgungsgesellschaft Thüringen-Sachsen GmbH (EVG) and associated gas networks, which were sold by E.ON SE and Verbundnetz Gas Aktiengesellschaft (VNG) to the infrastructure fund EDIF of First State Investments, the asset manager of the Commonwealth Bank.
Matthias advised Deutsche Bank AG, London Branch, as sole coordinator, and Deutsche Bank AG, London Branch, Commerzbank AG, UniCredit Bank AG and HSBC Bank plc as arrangers, on the refinancing of Minimax, a Germany-based fire safety company held by IK Investment Partners. The refinancing involved senior secured facilities including a €315 million term loan facility, US $442 million term loan 'B' facility, €141.5 million guarantee facility and a $40 million multicurrency revolving credit facility. Deutsche Bank Trust Company Americas acted as facility agent and Commerzbank AG, Luxembourg Branch, as security trustee.
Matthias advised the coordinating committee and various lenders to Torm A/S (comprising Danske Bank A/S, Nordea Bank, HSH Nordbank and Danish Ship Finance) on the out-of-court restructuring of Torm A/S (a Danish listed shipping company) and its subsidiaries. The restructuring saw the company gain access to a new US$100 million super senior working capital and resulted in the restructuring and extension of maturities with respect to Torm A/S's existing secured bank debt (of approximately US$1.8 billion), as well as a new corporate and group structure for subsidiaries of Torm A/S, and the issuance of new equity by Torm A/S to participants in the restructuring.
The Second EU Council Directive regarding Stock Corporations, Europäisches Privatrecht, Ein Studienbuch zum Privatrecht der Europäischen Gemeinschaft, Eds. Marian Paschke and Constantin Iliopoulos, Hamburg, p. 449 et seqq., 1998, (Die Kapitalrichtlinie betreffend Aktiengesellschaften)