VTG’s EUR2.9 Billion Refinancing

Linklaters has advised VTG on the deal.

VTG refinanced a common debt platform to support the long-term financing of its business. The total amount of debt required to implement the refinancing was EUR2.9bn. This is the first multi-sourced debt platform to be governed by German law.

The transaction also necessitated a pre-financing reorganisation of the VTG group to accommodate the debt platform and simplify the administration of the debt and common covenant package.

With VTG having operations across Europe, the transaction involved significant collaboration between Linklaters teams in London, Frankfurt, Hamburg, Berlin, Luxembourg, Paris and Amsterdam.

The transaction was led by London partners Stuart Rowson (Picture) and Mark Nuttall, managing associate Nick Szmigin, Frankfurt based partner Michal Hlasek led on German law financing issues and Hamburg based partner Mario Pofahl led on the corporate reorganisation.

Involved fees earner: Michal Hlásek – Linklaters; Mark Nuttall – Linklaters; Mario Pofahl – Linklaters; Stuart Rowson – Linklaters; Nick Szmigin – Linklaters;

Law Firms: Linklaters;

Clients: VTG Aktiengesellschaft;