SANHA GmbH & Co. KG’s extension of the term of its bond

Heuking Kühn Lüer Wojtek 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 percent 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.

SANHA GmbH & Co. KG manufactures and sells piping systems for heating, sanitary, and climatic engineering. Its primary products include fittings and pipes made of copper and copper alloys, stainless steel, carbon steel and composite materials, and energy-efficient heating and practical installation systems. The company, led by Bernd Kaimer and Frank Schrick, is based in Essen.

Heuking Kühn Lüer Wojtek advised SANHA GmbH & Co. KG with Thorsten Kuthe (Picture, Capital Markets), Anne de Boer, LL.M. (RSA) (Capital Markets), Kai Erhardt (Finance), Christian Staps (Insolvency Law), Christopher Görtz and Anna Richter (Capital Markets).

Involved fees earner: Thorsten Kuthe – Heuking Kühn Lüer Wojtek; Anne de Boer – Heuking Kühn Lüer Wojtek; Christopher Görtz – Heuking Kühn Lüer Wojtek; Anna Richter – Heuking Kühn Lüer Wojtek; Kai Erhardt – Heuking Kühn Lüer Wojtek; Christian Staps – Heuking Kühn Lüer Wojtek;

Law Firms: Heuking Kühn Lüer Wojtek;

Clients: Sanha GmbH & Co.;