Yen Sum

Yen’s representative transactions include advising:

• A club of private credit investors on an amendment and extension of c. €200 million of term and revolving facilities for a German based consumer software business, including negotiation of a substantial equity injection and extensive structuring and documentary improvements
• The private credit lender on a c. USD 130m debt-for-equity restructuring and recapitalisation transaction involving a UK-based pharmaceutical company, implemented through a fixed charge receiver appointment and enforcement sale
• Ares Management on the €800 million preferred equity financing with Carlyle in connection with a strategic investment in Your.World
• The bondholders in a liability management exercise of the bonds of Pfleiderer, a German manufacturer of wood-based materials, and its c. €820 million debt capital structure
• The majority bondholder committee across Eurobonds and medium-term notes in relation to the comprehensive chapter 11 and Swedish reconstruction restructuring of the c. €5 billion debt capital structure of Intrum, a leading European and listed Swedish credit management business
• The ad hoc committee in relation to Accolade Wines, one of the world’s largest winemakers, in relation to the restructuring of its c. A$750 million loan facilities and subsequent merger/exit to Pernod Ricard
• T he TLB lenders on the €310 million debt recapitalization and extension transaction of Flamingo International Group, a leading global horticultural group headquartered in the UK
• The creditors committee in relation to the c. €570 million recapitalization of Hilding Anders, a leading global bedding and mattress company
• The creditors committee in relation to the €865 million first and second lien financing arrangements and €620 million recapitalization of Imagina / Mediapro, a Spanish multimedia communications group
• The committee of noteholders in connection with the c. €430 million restructuring of Haya Real Estate, the largest Spanish real estate servicing company and the largest bank-independent third-party servicer of real estate developer loans (REDs) and real estate owned assets (REOs) in Spain
• The creditors committee in relation to the €160 million rescue financing and subsequent c. €1 billion debt and equity restructuring of Naviera Armas, a Spanish passengers and freight ferry services business
• The creditors committee in relation to the c. €300 million rescue financing and subsequent c. €2.9 billion debt and equity restructuring of Swissport, a global Swiss headquartered aviation services business
• The anchor investors in relation to the c. €50 million new money financing and corresponding c. €500 million restructuring of Dümmen Orange, a Dutch-headquartered international plant and flower business
• The creditors committee in relation to the compromise of rents and the subsequent c. £740 million debt and equity restructuring via the new UK “restructuring plan regime” of PizzaExpress, the UK and international casual dining group
• Bain Capital Credit on its joint investment in Food Service Project, SA (Alsea Europe) with Alsea, SAB de CV, the leading operator of quick service restaurants, coffee shops, casual and family dining establishments in Latin America and Europe, and Alia Capital Partners
• New Look, the UK-headquartered national fashion retailer in relation to the Company Voluntary Arrangement (CVA) of its store portfolio and a restructuring of its c. £1.35 billion debt restructuring in 2019 and of its £600 million debt and equity recapitalization in 2020
• The creditors committee in relation to the c. €530 million financing arrangements and extension of the debt facilities of ARVOS Group, a global manufacturer and supplier of industrial equipment, heat exchange, and transfer solutions
• FatFace, a UK headquartered apparel retail business in relation to its ongoing corporate and financing matters and, prior to this, the senior creditors committee in relation to the group’s c. £200 million debt and equity restructuring
• The creditors committee in relation to the €1.9 billion debt and equity restructuring of Selecta, a Swiss headquartered pan-European coffee and vending machine business
• The creditors committee in relation to the €410 million debt and equity restructuring of Curaeos, a Dutch-headquartered pan-European dental clinics business
• The private credit lender in relation to the €155 million debt restructuring and distressed M&A of BVA, the French headquartered global market research and consulting firms
• A direct lender in relation to the Holdco PIK and subordinated financing of public-to-private of Industria Macchine Automatiche S.p.A., a European company in the packaging sector
• A private credit lender in relation to the Holdco PIK and subordinated financing of Advent, Cinven and RAG-Stiftung’s c. €17bn acquisition of Thyssenkrupp’s elevator business
• The banks in relation to the c. £450 million debt restructuring of Travelex, a global payment systems business
• The creditors committee in relation to the c. US$2 billion debt extension and financing arrangements of Flint Group, a global supplier to the printing and packaging sectors
• The banks in relation to the c. €900 million debt and equity restructuring of HEMA, the Dutch headquartered variety store-chain
• The creditors committee in relation to the €625 million debt and equity restructuring of Deoleo S.A., a Spanish headquartered global olive oil production and distribution business
• The creditors committee in relation to the c. £620 million debt and equity restructuring of Doncasters Group, the UK-headquartered international manufacturer of high-precision alloy components
• Survitec Group, the UK-headquartered and global safety and survival equipment business, in relation to its corporate, financing and strategic matters and its £450 million debt and equity restructuring
• Britax Römer Group, the UK-headquartered child seat, pushchair and bike seat manufacturer and distributor on its c. US$380 million debt and equity restructuring
• The TLB lenders in relation to FläktGroup, the German-headquartered global manufacturer of indoor air technology and management systems on its c. €390 million debt capital structure
• The creditors committee on the c. €450 million debt and equity restructuring of the French-headquartered trucks leasing business, Fraikin Group, and representing Fraikin Group and its shareholders in the post-restructuring merger between Fraikin and Via Location
• Goldman Sachs in relation to the £400 million second lien financing for Stonegate Pubs
• The creditors committee in relation to Global Ship Lease’s 9.875% First Priority Secured Notes due 2022 following the Company’s announcement of an all-stock merger transaction with Poseidon Containers
• Blackstone Credit (formerly GSO Capital) relating to the public-to-private and ongoing corporate reorganizations of Saferoad, the Nordic and European road equipment and infrastructure business
• Stiga SpA, the Italian garden machinery manufacturer, in connection with its c. €230 million TLB cov-lite and c. €30 million RCF financing as well as corporate and strategic advice to the company and board of directors
• Certain bondholders in connection with the restructuring of Oi S.A. and subsidiaries, the Brazilian telecommunications group
• The mezzanine lenders in connection with Kedleston, the UK education group
• The private credit lender in connection with the c. £65 million TLB/ABL financing for the Oscar Mayer, a UK food producer
• The mezzanine lender in connection with the c. €160 million financing for Diaverum Group, UK healthcare provider
• The mezzanine lender on the c. €1.3 billion super senior revolving credit facility, senior secured and second lien bonds, and mezzanine facility financing of Perstorp AB, a Swedish chemicals business
• The senior lenders on the restructuring of Pelican Rouge, a UK, French, and Spanish vending machine and coffee business
• The private credit lender on the US$245 million financing of Lumenis Group, an Israeli medical lasers business
• The creditors committee on the €700 million restructuring of H.C. Starck Group, a German metals and ceramics business
• The creditors committee on the c. €900 million debt and equity restructuring of Van Gansewinkel Groep, a Benelux waste management business, and the shareholders in the subsequent merger of the group with Shanks Group plc
• The anchor investors on the £2.8 billion restructuring of French clothing and footwear retailer, Vivarte, named Global Finance Deal of the Year – France in The American Lawyer’s Global Legal Awards 2015
• The creditors committee on the c. £2.3 billion restructuring of hibu (formerly Yell), a US, UK, and Spanish directories business, named Global Finance Deal of the Year – Restructuring & Insolvency in The American Lawyer’s Global Legal Awards 2014
• The unitranche lender on the private credit financing for AnaCap Financial Partners’ trust and company formation business, First Names Group
• The unitranche lender on the €70.5 million unitranche and acquisition facilities financing of Ambuiberica, a Spanish and Latin American ambulance operator business
• The creditors committee of note holders on the restructuring of the Spanish and Latin American gaming group, Codere
• The lenders in relation to the c. €400 million debt-to-equity restructuring of Marken, a global specialist logistics business, and the shareholders in the subsequent M&A exit
• The creditors committee on the restructurings of European Directories, a pan-European directories group
• The creditors committee on the debt restructurings of Dinosol, a Spanish supermarkets business
• Oaktree Capital on the restructuring of Panrico, a Spanish and Portuguese bread and pastry bakery
• DX, the UK logistics group, on the restructuring of its facilities through a scheme of arrangement
• The lenders on the restructuring of McCarthy & Stone through a precedent-setting business transfer and non-economic scheme of arrangement, named by IFLR as Restructuring Deal of the Year in 2010