Noerr advises fashion manufacturer Laurèl on bond restructuring
Noerr is advising Laurèl GmbH on restructuring its 2012/2017 corporate bond. After the 1st bondholders’ meeting on 31 August did not have a quorum, the 2nd bondholders’ meeting elected One Square Advisory Services GmbH the joint agent of the bondholders at the suggestion of the company.
The joint agent was also authorised to decide on deferring the interest payment due on 16 November 2015 for up to six months. Laurèl intends, however, to fully satisfy the interest payment due on the bonds on 16 November 2015. Laurèl also continues its search initiated in July 2015 for a strategic investor in order to implement its growth plans more rapidly.
The Noerr team led by the Frankfurt partners Dr. Thomas Hoffmann and Dr. Laurenz Wieneke is advising Laurèl comprehensively on restructuring the €20m bond. Only last year Noerr advised ODDO SEYDLER BANK AG on the successful restructuring of the €100m bond of 3W Power S.A., the holding company of the AEG Power Solutions Group. ODDO SEYDLER relied on the advice of a team led by Laurenz Wieneke. Team Treuhand GmbH, a company belonging to the Noerr Group, was elected joint agent of the bondholders. Team Treuhand GmbH was represented by its managing director, the Noerr partner Thomas Hoffmann.
Advisors to Laurèl GmbH: Noerr LLP
Dr. Thomas Hoffmann (Restructuring), Dr. Laurenz Wieneke (Capital Market, both Frankfurt)
Associates: Dr. Ivan Zlatanov (Capital Market, Frankfurt), Isabel Giancristofano (Restructuring, London)