information brochure - Sullivan & Cromwell

S&C in Europe continued
FINANCINGS/RESTRUCTURING
Financing and restructuring work are among the core areas of practice in our Frankfurt
office, as noted above, and likewise, of our London and Paris offices. Our Europe-based
lawyers have advised on numerous major acquisition financing transactions and prominent
reorganisations and restructurings involving both distressed and non-distressed assets.
In the pursuit of their strategic objectives, and with continued uncertainty in Eurozone
markets, clients have turned to us for innovative, business-oriented advice. Highlights of
our recent work in these areas include advising:
• Kabel Deutschland, Germany’s largest network cable operator, on a covenant amendment process in
May 2011, a leveraged €500 million term loan facility in June 2011, a leveraged US$ 750 million facility
in January 2012, and a loan extension process which raised a further €782 million in February 2012
• Kinove German Bondco GmbH (as issuer) (Germany) and Rhône Capital (as sponsor) (US) on a
€600 million equivalent Rule 144A/Regulation S offering of high yield fixed rate notes and a $250
million revolving credit facility for Evonik Degussa GmbH (Germany) (2011)
• Fiat (Italy) and Chrysler Group (“New Chrysler”) (US) in connection with the purchase of substantially
all the assets of Chrysler out of bankruptcy (2009)
• Kodak (US) on certain aspects of its European restructuring (2012)
• Endemol (Netherlands) on its financing arrangements and subsequent restructuring (2011)
• General Electric (US) on the restructuring of its French operations (2012)
• LHC.Clearnet Group on financing aspects of its acquisition of International Derivatives Clearing
Group (2012)
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