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Tuesday - 2021/01/19
HomeDeal & transactionsHomburger advises the board of directors of gategroup

Homburger advises the board of directors of gategroup

Homburger advises the board of directors of gategroup

gategroup holding announced that its shareholders, RRJ Capital and Temasek, and all bank lenders providing syndicated loans to the group have reached an agreement in principle, under a binding term sheet, to support a comprehensive restructuring of the Group’s financial indebtedness. The proposed transaction will provide the Group with significant new liquidity to address short and medium-term needs and will help establish a stable capital structure.

The transaction will be conditional on the extension of the maturity of the Group’s CHF denominated bond to February 2027, whilst maintaining the cash coupon.The transaction is also subject to the execution of definitive documentation, customary conditions and regulatory and other approvals.

The team

Homburger advises the board of directors of gategroup in connection with the transaction as to Swiss law. The team includes partners Frank Gerhard (Corporate / M&A), Benedikt Maurenbrecher (Financing and Investment Products; Restructuring / Insolvency), Stefan Kramer (Financing and Investment Products; Restructuring / Insolvency), senior counsel Ueli Huber (Restructuring / Insolvency), associates Marco Rostetter (Corporate / M&A; Restructuring / Insolvency), Miguel Sogo (Litigation; Restructuring / Insolvency) and Richard Meyer (Litigation; Restructuring / Insolvency).

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