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Allen & Overy advises banks on bond issue with an exchange offer by Air Berlin PLC

02 May 2014

Allen & Overy LLP advised ANOA Capital S.A., quirin bank AG and Close Brothers Seydler Bank AG in connection with the issue of four series of bonds by Air Berlin PLC in connection with its recapitalization.
The fixed bonds have terms of five and seven years, denominations in Euro and Swiss Franc and a high-yield style covenant package. The bonds have an aggregate principal amount of EUR 250 million (or the equivalent in Swiss Franc).

Furthermore, Allen & Overy advised the banks on an exchange offer to the holders of outstanding bonds due 2014 and due 2015 issued by Air Berlin PLC. The exchange offer allows bondholders to offer to exchange their notes for new notes due 2019 to be issued by Air Berlin PLC, whereby holders have the option to exchange for notes denominate in Euro or Swiss Francs.

The Allen & Overy team comprised partners Gernot Wagner (US corporate finance) and Dr. Oliver Seiler (international capital markets), counsel Dirk Eisel and Dr. Knut Sauer and associate Dr. Alexander Schlee (international capital markets, all Frankfurt).

Also involved were partner Jonathan Mellor and associate May Chiu (both international capital markets) in London as well as partner Frank Mausen (international capital markets), partner Pierre Schleimer (Banking) and associate Paul Peporte (international capital markets) in Luxembourg.