31/08/2023
#DEAL #RESTRUCTURING #INSOLVENCY
Arendt advised an ad hoc group of noteholders (the ‘AHG’) in relation to the consensual €830m restructuring of the Takko Fashion group's financial debt. The cross-border transaction involved a tender and exchange offer and consent solicitation for the purpose of delivering a debt-for-equity swap and debt-for-debt swap that reduced leverage by more than €250m.
Takko Fashion is a leading European fashion discounter, with almost 2,000 stores across 17 countries. Following the restructuring, the Takko Fashion group is better positioned to continue its growth, with a new long-term capital structure and the AHG as majority shareholders.
Our Arendt experts involved
> Restructuring & Insolvency | Corporate Law, Mergers & Acquisitions: Sébastien Binard, Valentina d’Eufemia, Etienne Barthel, Kerem Guler and Nataliia Filimonova
> Finance & Capital Markets: Matthieu Taillandier, Dominik Pauly, Nicolas Tintanne, Pauline Zigrand and Peter Vedev
> Tax Law: Philipp Jost, Alexandre Durand and Adnand Sulejmani
