Akin Gump Advises Noteholders on $1 Billion ED&F Man Refinancing
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(London) – Akin Gump is advising the holders of private placement notes issued by ED&F Man Treasury Management plc in connection with the group’s refinancing of more than $1 billion of debt pursuant to an English scheme of arrangement.
On September 9, 2020, High Court Judge Mr. Justice Meade approved a package to provide a stable platform for the group to implement its business plan. The scheme is designed to restructure certain of the group’s debts (which include English law-governed credit facilities as well as the New York law-governed private placement notes) through the amendment and restatement of those liabilities into new secured debt instruments with a common maturity date and covenant package.
In addition, the scheme provides the scheme creditors with the opportunity to participate in new money debt to be provided to the company.
The Akin Gump team advising the noteholders is led by London financial restructuring partner Barry Russell, with partner Tom Bannister, counsel Emma Butler and associate Diana Dai.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East. Founded in 1945, the firm is proudly celebrating its 75th anniversary in 2020. #AkinGump75
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