Freshfields Advises Core Banks and EIB on Financial Restructuring of Webasto

Freshfields advised the core banks of Webasto SE, led by the coordinating banks Bayerische Landesbank and UniCredit, and the European Investment Bank on the successful financial restructuring of the Webasto group. Webasto is a leading global German automotive supplier operating in the roof, thermo and battery segments, with sites across several European countries and in India, China, Mexico and the United States. The complex transaction comprised an extension of the maturities of the existing approximately €1.2 billion of loans, which are partly state-guaranteed, and the provision of a €200 million new-money credit line by a subset of lenders in exchange for a comprehensive security package. The restructuring also included the establishment of a dual-purpose trust agreement over the shares in Webasto SE, with Christoph Morgen and Jan Markus Plath appointed as trustees. In addition, holders of promissory notes extended the maturities of those notes and certain customers of the Webasto group agreed to make contributions required for the restructuring. Freshfields advised the core banks of Webasto SE, led by the coordinating banks Bayerische Landesbank and UniCredit, and the European Investment Bank with a team composed by: Partners Frank Laudenklos (Finance, Frankfurt) and Marvin Knapp (Restructuring and Capital Solutions, Hamburg); Principal Associate Hannes Butz (Finance, Frankfurt); Counsel Nina Heym (Finance/Restructuring and Capital Solutions, Frankfurt); Associates Sam Rigney (Restructuring and Capital Solutions, London), Alexander Bräuer (Finance, Frankfurt), Benedict Kebekus (Restructuring and Capital Solutions, Hamburg), Andreas Aigner (Restructuring and Capital Solutions, Hamburg) and Leif-Magnus Wishöth (Finance, Frankfurt). Specialist tax law advice was provided by Partner Alexander Schwahn and Associates Fabienne Gieshoidt and Leon Liekefett (all Hamburg). Partner Andreas von Bonin (Brussels), Counsel Uwe Salaschek (Berlin) and Associate Philipp Baschenhof (Brussels) advised on competition law and other regulatory aspects.

Freshfields Advises Core Banks and EIB on Financial Restructuring of Webasto

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