Noerr advises Close Brothers on the implementation of the 3W Power restructuring plan

The law firm Noerr LLP advised Close Brothers Seydler Bank AG on the comprehensive restructuring of the 100 million Euro bonds of 3W Power S.A. – the holding of the AEG Power Solutions Group – which has now been concluded. Core elements of the restructuring plan concluded in May between the company and the creditors were a Debt-to-Equity-Swap of 50% of the bond value and the issue of a new bond.

Close Brothers Bank acted as clearing office for the bonds and for the implementation of the approved restructuring measures. In addition to the swap and the issue of a new bond, the measures also included a capital increase for cash and a management incentive programme.

Close Brothers was advised by the Frankfurt capital markets lawyer and Noerr partner Dr. Laurenz Wieneke. Team Treuhand GmbH, which is part of the Noerr Group, was also involved in the transaction as joint representative of the bondholders. Team Treuhand was represented by its managing director, Noerr partner and restructuring expert Dr. Thomas Hoffmann.

Advisor Close Brothers Seydler Bank AG: Noerr LLP

Dr. Laurenz Wieneke (capital markets law, Frankfurt)

Representing the bondholders: Team Treuhand GmbH, represented by its managing director Dr. Thomas Hoffmann (restructuring Frankfurt/Berlin)