02 February 2014
Carey Olsen advises HayFin Capital Management LLP on €75 million loan
HayFin Capital Management LLP (HayFin) has been successfully advised by Carey Olsen in the Cayman Islands in relation to its €75 million facility agreement with ATU Auto Group, a German car parts retailer.
Carey Olsen acted on the Cayman Islands aspects of the transaction as part of a wider international legal advisory team which involved New York, German and Luxembourg security and an English facilities agreement and intercreditor agreement. Under the restructuring deal existing bondholders Centerbridge, Babson and funds managed by Goldman Sachs acquired new shares in the restructured group, while the HayFin loan - a term loan and revolving credit facility – was made available to the operating companies.
Cayman Islands partner Nick Bullmore led the Carey Olsen team and was supported by associate Alistair Russell.