Allen & Overy advises GN Store Nord on the refinancing and upsizing of its loan facilities
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Allen & Overy (A&O) has advised GN Store Nord (GN) as borrower counsel on the refinancing and upsizing of its loan facilities to include DKK 2.1 billion (EUR 280 million) of new debt via a debt refinancing to replace its existing Term Loan Facility, totalling DKK 6 billion (EUR 800 million), and a DKK 3.9 billion (EUR 520 million) upsizing of its existing Revolving Credit Facility.
This was a major milestone for the company and a key pillar of its deleveraging plans. The deal was announced on 24 May 2023 and closed on 27 September 2023.
GN is a Danish manufacturer of intelligent hearing, audio, and gaming solutions. Headquartered in Ballerup, Denmark, GN operates in 100 countries across the world.
Jane Glancy, partner at Allen & Overy said, “the A&O team are delighted to have had the opportunity to act as borrower’s counsel and achieve this key milestone for our client GN. It was a privilege to support and advise GN on such a complex, multi-jurisdictional transaction and provide truly global advice from our teams on the ground all around the world.”
The cross-jurisdictional team was led from London by partner Jane Glancy, with assistance from associate Emin Moskofian, and supported in Europe by partners Olaf Meisen, Stefan Kuhm and associate Felix Fitschen in Frankfurt, partner Ignacio Ruiz-Camara, senior associate Núria Ferré and associates Laura Cabezas and Jose Luis Escobar in Madrid. The US team was led by partners Elizabeth Leckie and Andrea Lucan with support from associate John Azzopardi. APAC advice was led by partner Cindy Lo and associate Hui Ling Yuen in Hong Kong, partner William Kim and registered foreign lawyer Sophie Courtney in Sydney, partner Prakash Segaran and senior associate Benjamin Foo in Singapore and counsel Akira Takahashi and paralegal Kyoko Naka in Tokyo. Local counsel advice was provided by Gorrissen Federspiel (Denmark) and Setterwalls (Sweden).