Newsroom
News
Press Release

White & Case Advises Bondholders on Solocal Group's Financial Restructuring

Global law firm White & Case LLP has advised the bondholders on the financial restructuring of the Solocal Group, the leading European provider of digital solutions for SME companies.

Under the restructuring, asset management firm GoldenTree will become a reference shareholder of Solocal, holding a minimum of 15.5 percent of the capital at the end of the transaction.

The restructuring follows Solocal suspending the payment of the bond coupon due on March 15, 2020, in anticipation of the impact of Covid-19, leading to the opening of negotiations with its bond creditors. The bond creditors are providing support of €330 million, securing €85 million of liquidity in the group and €32 million of additional financing.

The White & Case team which advised on the transaction was led by partner Saam Golshani (Paris) and included partners Franck De Vita, Séverin Robillard, Yann Utzschneider (all Paris) and Gilles Teerlinck (London), counsel Orion Berg and associates Aurélien Loric, Hugues Racovski, François Wyon, Tiphanie Levassort and Amandine Grima (all Paris).

Press contact
For more information, please speak to your local media contact.