Allen & Overy advised on IHO Verwaltung’s EUR 300 million upsize of its original EUR 500 million Sustainability-Linked Senior Secured PIK Toggle Notes
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The additional notes will be fully fungible with the EUR 500 million Sustainability-Linked Senior Secured PIK Toggle Notes due 2028 that will be issued on April 3, 2023.
IHO Verwaltung will use the proceeds from both issuances to redeem its existing EUR 800 million senior secured PIK toggle notes due 2025 in full.
The Allen & Overy team advising with respect to the transaction is being led by partner Marc Plepelits, senior associates Rita Nicole Thomas and Martin Schmidt and associate Ariana Mercado (all US Corporate Finance) and also included lawyers from A&O’s banking, tax, regulatory and capital markets teams in Frankfurt, Munich, London, Luxembourg and New York.
IHO Verwaltung is being advised internally by Dr. Alexandra Zech and Juliane Wittig (legal counsel, Herzogenaurach).