Latham & Watkins Advises Currenta Group on Issuance of €1 Billion High Yield Bonds

Latham & Watkins has advised Currenta Group, a German chempark operator, on the inaugural issuance of 5.500% senior secured fixed rate notes and senior secured floating rate notes under New York law (144A/Reg S) with a total volume of €1 billion and a term until 2030 and 2032, respectively. The notes will be listed on The International Stock Exchange (Official List). The transaction also included a super senior credit facility with a volume of €185 million and a super senior guarantee facility with a volume of €80 million.

The net proceeds from the issuance of the notes will be used to repay existing debt of Currenta Group and to fund shareholder payments.

The Latham team was led by debt capital markets partners Alexander Lentz and Rüdiger Malaun and banking and finance partner Alexandra Hagelüken, with counsels Gregory Walker and Cora Grannemann, and associates Isabel Willius, Laura Neumann, Kate Zhu, and Anastasia Dressler. Advice was also provided on tax matters by partner Ulf Kieker and associate Manuela Minsel.