Homburger advises Deutsche Bank in financing restructuring deal
Homburger advised Deutsche Bank’s London branch, and the other syndicate banks, in connection with the financial restructuring for German manufacturer Varta. The Zurich-based firm acted as legal counsel on all Swiss aspects of the transaction.
The context
Globally active in the battery technology field, Varta’s product portfolio includes micro batteries, household batteries, energy storage systems and customer-battery solutions.
The company is on the verge of completing a complex financial restructuring. Such proceeding started in July 2024 under the German StaRUG (German Act on the Stabilisation and Restructuring Framework for Companies), to be subsequently accepted in November 2024.
The implementation phase is set to take off in the first quarter of 2025. Varta will therefore access EUR 60m worth of credit facilities.
The team
Jürg Frick (financing and investment products, pictured) led the Homburger team on the transaction, supported by associates Michelle Wolf and Nathalie Scherrer (both Financing and Investment Products). Partner Stefan Oesterhelt (tax) handled all taxation matters.
