Latham & Watkins Advises Syndicate of Banks on High-Yield Bonds of IHO Verwaltungs GmbH in the Amount of €1 Billion (Equivalent)

Latham & Watkins LLP has advised the banking syndicate on the issuance of Senior Secured PIK Toggle Notes to institutional investors for a total aggregate amount of €1 billion (equivalent).

The issuance comprises one euro tranche in a principal amount of €600 million with a maturity of five years and one US dollar tranche in a principal amount of US$500 million with a maturity of seven years.

In the past, Latham & Watkins has advised various banking syndicates in connection with several high-yield bond transactions of IHO Group, which conducts its operational business through the Schaeffler, Continental, and AUMOVIO groups.

The Latham team was led by Frankfurt capital markets and corporate finance partner Alexander Lentz and Munich capital markets and corporate finance partner Rüdiger Malaun, with associates Laura Neumann and Peter Neuböck.