Heuking Kühn Lüer Wojtek advises refinancing of Havells Sylvania Europe Ltd.

Havells Sylvania Europe Ltd., having its registered office in Newhaven (UK), Havells Netherlands BV. having its registered office in Amsterdam, and further companies of the international Havells-Group on 24 May 2012 have signed the documentation on the refinancing of a EUR 120m loan granted by Barclays Capital, State Bank of India and Barclays Bank PLC, London. The refinancing facility in the amount of EUR 77.5m will be granted by a consortium of ICICI Bank UK PLC, Standard Chartered Bank and HSBC Bank PLC acting as arrangers.

The parties to such refinancing have each been advised by international teams of lawyers composed by law firms from 18 jurisdictions. Heuking Kühn Lüer Wojtek has thoroughly advised the English Havells Sylvania Europe Ltd. as borrower on legal and tax issues subject to German law and negotiated the corresponding documentation, in particular as well with regard to the release and re-granting of collateral by the German group company Havells Sylvania Germany GmbH, having its registered office in Erlangen.

India-based Havells-Group is one of the largest and India's fastest growing electrical and power distribution equipment manufacturer. With 94 branches and representative offices and over 5,000 professionals in over 50 countries across the globe, the group has achieved rapid success in the past few years by generating an enterprise value of approximately USD 1.25 bn. Its 18 manufacturing units in India, Europe, Latin America and Africa churn out globally acclaimed products like switchgears, cables, wires, lights and lamps. Havells acquired the German SLI Sylvania in 2007 for EUR 227.5m. Havells Sylvania is a leading provider of comprehensive, professional lighting solutions and contributes about half of the turnover of Havells. With 100 years experience in lighting equipment Havells Sylvania provides modern products and systems for public, commercial and private sector.

Advisor Havells Sylvania:
Heuking Kühn Lüer Wojtek:
Dr. Günther M. Bredow (Corporate Finance, lead),
Dr. Guido Hoffmann (Finance, lead),
Dr. Marc Scheunemann (Tax),
Finn-Michael Liebscher,
Daniel Klofat (both Corporate)

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