Selecta Group successfully completes recapitalisation and corporate reorganisation. The transaction involved the recapitalisation of three series of senior secured notes in an aggregate principal amount of EUR 1.24 billion plus CHF 250 million which was implemented pursuant to an English scheme of arrangement and the issuance of new first lien and second lien notes by Selecta Group in connection with such scheme of arrangement.
In addition, a EUR 150 million revolving credit facility extended by a group of syndicate banks was amended and extended with unanimous consent. Further, the governing law of Selecta Group’s existing notes was changed from New York law to English law in order to facilitate access to the English scheme jurisdiction.
Niederer Kraft Frey advised the Selecta group in connection with its recapitalisation and corporate reorganisation. The team comprised partners Till Spillmann (pictured) and Philippe Weber (both, Capital Markets, Corporate/M&A, Finance), senior associate Andrea Giger (Capital Markets, Corporate/M&A, Finance), associates Aurèle Bertrand and Corinne Russi (both Corporate/M&A, Finance) and partner Markus Kronauer (Tax).