Gesellschaftsrecht / M&A

Finanzierungen und Anlageprodukte

Restrukturierungen / Insolvenz

Prozesse

Gategroup

On November 13, 2020, gategroup Holding AG (gategroup, together with its subsidiaries the Group) announced that its shareholders, RRJ Capital and Temasek, and all bank lenders providing syndicated loans to the Group have reached an agreement in principle, under a binding term sheet, to support a comprehensive restructuring of the Group’s financial indebtedness (Transaction). The proposed Transaction will provide the Group with significant new liquidity to address short and medium-term needs and will help establish a stable capital structure.
The Transaction will be conditional on the extension of the maturity of the Group’s CHF denominated bond to February 2027, whilst maintaining the cash coupon.
The Transaction is subject to the execution of definitive documentation, customary conditions and regulatory and other approvals.
gategroup is a global player in airline catering, retail-on-board and hospitality products and services. Headquartered in Zurich, Switzerland, gategroup delivers its services through its extensive catering network, serving more than 700 m passengers annually from over 200 operating units in over 60 countries/territories across all continents. In 2019, gategroup reached CHF 4.9 bn in revenues generated by approximately 43,000 employees worldwide.
Homburger advises the board of directors of gategroup in connection with the Transaction as to Swiss law. The Homburger team includes partners Frank Gerhard (Corporate / M&amp;A), Benedikt Maurenbrecher (Financing and Investment Products; Restructuring / Insolvency), Stefan Kramer (Financing and Investment Products; Restructuring / Insolvency), senior counsel Ueli Huber (Restructuring / Insolvency), associates Marco Rostetter (Corporate / M&amp;A; Restructuring / Insolvency), Miguel Sogo (Litigation; Restructuring / Insolvency) and Richard Meyer (Litigation; Restructuring / Insolvency).

Homburger advises the board of directors of gategroup Holding AG on its restructuring consisting of CHF 500 m new funding provided by the shareholders, CHF 200 m senior secured interim liquidity facility extended by shareholders and extension of the maturity of the Group’s syndicated loan facilities to October 2026 as well as certain other amendments

Richard M.
Meyer

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Richard M. Meyer

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