Global law firm White & Case LLP has advised the Austrian BENTELER Group on the issuance of various financial instruments for the early and full repayment of BENTELER Group's existing restructuring liabilities.
The transaction included a successful capital market debut with the issuance of two senior secured high yield bonds maturing in 2028 with volumes of €525 million and US$500 million, a syndicated loan facility of €810 million and a revolving credit facility of €250 million, both with a maturity of 4.5 years.
As part of the discharge of liabilities, White & Case also advised on the release of collateral in 18 countries which the BENTELER Group had provided in 2020 in favor of the restructuring creditors and in connection with the restructuring agreement at that time.
The White & Case team that advised on the transaction was led by partners Vanessa Schürmann, Rebecca Emory and Gernot Wagner (all Frankfurt) and included partners Yannick Adler, Bodo Bender (both Frankfurt) and Stefan Bressler (Hamburg, Frankfurt), local partner Daniel Rogits (Frankfurt) and associates Jan-Christopher Wilhelms, Yulia Chembulatova, Marie-Christin Frowerk, Merve Mert, Lina Fiedler (all Frankfurt), Thorsten Eggert, Moritz Schneider and Tobias Zuendorf (all Hamburg).
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