10-28-2015

Heuking Kühn Lüer Wojtek advises Cloud No 7 on financing by a secured Schuldschein-Loan and capital market law matters




With a team led by Dr. Anne de Boer, Heuking Kühn Lüer Wojtek advised Cloud No 7 GmbH on selling the Cloud No 7 real estate project to its subsidiary Cloud No 7 Hotel GmbH & Co. KG. The purchase price was financed by a secured Schuldschein-Loan  issued by a leading southern German pension fund. Funding is provided to Cloud No 7 Hotel GmbH & Co. KG in two installments. Collateral in a corresponding amount is provided to bondholders for the second tranche in agreement with the trustee. Cloud No 7 GmbH intends to make a premature partial repayment of its Cloud No 7 6% bonds.

The team led by Dr. Anne de Boer advised comprehensively on the setup, in particular with regard to the Cloud No 7 GmbH bonds and on negotiating and concluding the promissory note. In addition, Heuking Kühn Lüer Wojtek supervised matters under capital market law related to the Cloud No 7 GmbH bonds and the coordination and agreements with the bonds’ collateral trustee.

In 2013, Dr. Anne de Boer had already advised on structuring and issuing Cloud No 7 GmbH project bonds to build the Cloud No 7 residential and hotel complex in the Europaviertel quarter behind Stuttgart's main railway station.

Counsel to Cloud No 7
Heuking Kühn Lüer Wojtek:

Dr. Anne de Boer, LL.M. (Lead, Finance/Capital Markets), Stuttgart
Michael Neises (Finance), Frankfurt
Sarah Dupont (Capital Markets), Stuttgart
Tobias Riemenschneider (Finance), Frankfurt

Contacts

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