Latham & Watkins Advises Committee of Senior Secured Noteholders on the Amendment and Extension of Graanul Invest’s Key Financial Indebtedness

Latham & Watkins has advised an ad hoc committee of senior secured noteholders in connection with the successful amendment and extension of the senior secured notes of the Graanul Invest group, Europe’s largest producer of industrial-grade sustainable wood pellets. 

The transaction that was consummated on 27 August 2025 was implemented through an exchange offer of the notes and received overwhelming support from over 99% of the Group’s noteholders.

The amendment and extension of the notes involved a partial paydown of €55 million and exchange of the Group’s €630 million senior secured fixed and floating rate notes for €577,244,330 of new senior secured fixed and floating rate notes held by participating noteholders, and €4,011,000 of amended notes held by non-participating noteholders, in each case due 2029. 

The multidisciplinary Latham & Watkins team was led by London partners Yen Sum and Jennifer Brennan, supported by London associates Maria Yip, Ben Russell, Alexis Downe, and Sidney Chin, and with the involvement of New York partners Benjamin Stern and Joe Zujkowski. Advice was also provided on capital markets matters by London partners Brett Cassidy and Matthew Schneider, with London associate Oscar Lopez.