A team of business law firm Heuking Kühn Lüer Wojtek led by Dr. Thorsten Kuthe advised SANHA GmbH & Co. KG on extending the term of its 2013/2018 bond.
Since the necessary quorum had not reached in an initial vote of bondholders without a meeting, the bond creditors approved the proposed amendment with a majority of 99.8% at a meeting on September 15. The consensual reorganization concept was developed in discussions that were held between SANHA, One Square Advisory Services GmbH, and major bondholders. In addition to extending the bond term until 2023, the concept also provides for providing collateral and making additional extensive changes. One Square Advisory Services GmbH was appointed security trustee and joint representative. Wolfgang Bläsi (wb finance) and Frank Heun advised on financial and capital market-related issues including project management.
The team led by Kuthe has been advising SANHA GmbH & Co. KG on extending the bond term from the outset.
Counsel to SANHA GmbH & Co. KG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead, Capital Markets), Cologne
Dr. Anne de Boer, LL.M. (RSA) (Capital Markets), Stuttgart
Dr. Kai Erhardt (Finance), Hamburg
Christian Staps (Insolvency Law), Frankfurt
Anna Richter, LL.M (both Capital Markets), both Cologne