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Freshfields advises Lumileds on German law aspects of its balance sheet restructuring

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Lumileds Holding B.V. and certain of its subsidiaries (‘Lumileds’) on German law aspects in connection with its balance sheet restructuring. It contemplates entering into a pre-packaged Chapter 11 plan involving only Lumileds’ U.S. and Dutch entities for the purpose of effective de-leveraging the balance sheet of the group by over $1.3 billion (from approximately $1,7 billion to $300 million). Furthermore takeback debt and post-petition loans entered into in August 2022, have been combined into a 5-year exit facility entered into in October 2022.

Lumileds is a global leader in manufacturing light products for various industries.

The Freshfields team comprised of Partner Michael Josenhans (Lead), Aleksandar Djurdjevic and Theodoros Fostieris (all Finance, Frankfurt), and Partner Marvin Knapp and Jan-Philip Wilde (both Restructuring, Hamburg).