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

Swissport

On August 31, 2020, Swissport International AG (SPI) announced that SPI together with certain other entities of the Swissport group (Swissport) entered into a lock-up agreement for comprehensive restructuring which envisages debt-for-equity swap with approx. EUR 1.9 bn of existing debt converted into equity or extinguished and EUR 500 m in new long-term facility. Swissport also entered into binding documentation for a EUR 300 m super senior interim facility. This additional financing provides Swissport with liquidity to trade through the COVID-19 pandemic and to facilitate the restructuring process. Under the terms of the lock-up agreement, Swissport will shortly be launching an M&amp;A process to run in parallel with other restructuring steps as customary in such situations. The financial restructuring is expected to be completed in late 2020.
Swissport is world&#8217;s leader in airport ground services and air cargo handling, with 64,000 employees, achieved consolidated operating revenue of EUR 3.13 bn in 2019. At the end of December 2019, Swissport was active at 300 airports in 47 countries on six continents.
Homburger advises SPI in connection with the restructuring as to Swiss law. The Homburger team is led by partners Claude Lambert (Corporate / M&amp;A) and Stefan Kramer (Financing and Investment Products; Restructuring / Insolvency) and includes senior counsels Ueli Huber (Restructuring / Insolvency) and Georg Naegeli (Litigation; Restructuring / Insolvency), associates Marco Rostetter, Daniel Kuhn, Aron Waltuch and Nina Hagmann (all Corporate / M&amp;A; Restructuring / Insolvency), Miguel Sogo (Litigation; Restructuring / Insolvency) and Simon Bachmann (Litigation) as well as junior associates Lars Göldi (Financing and Investment Products) and Vincent Croisier (Corporate / M&amp;A).

Homburger advises Swissport International AG on its comprehensive restructuring with creditors and shareholders including a debt-for-equity swap and a new 500 m euros long-term debt facility

Ueli Huber hat umfassende Kenntnisse und Erfahrungen in der Beratung verschiedener Interessengruppen in Insolvenz- und Restrukturierungsfällen. Mit seinem gesellschaftsrechtlichen und transaktionalen Hintergrund fokussiert er seine Praxis auf Transaktionen, welche restrukturierungsbedürftige Unternehmen betreffen, und ähnliche Angelegenheiten. Ueli Huber hat im Bereich von Insolvenz und Restrukturierungen sowie Gesellschaftsrecht publiziert. Er ist Co-Autor zweier Kommentare zum Schweizerischen Schuldbetreibungs- und Konkursrecht.

Ueli
Huber

Homburger advises Swissport International AG on its comprehensive restructuring with creditors and shareholders including a debt-for-equity swap and a new 500 m euros long-term debt facility

Regulation of state and supplementary pension schemes in Switzerland: overview

Regulation of state and supplementary pension schemes in Switzerland: overview 2018

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Ueli Huber

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UeliHuber

Homburger advises Swissport International AG on its comprehensive restructuring with creditors and shareholders including a debt-for-equity swap and a new 500 m euros long-term debt facility

Regulation of state and supplementary pension schemes in Switzerland: overview

Regulation of state and supplementary pension schemes in Switzerland: overview 2018

Join the Team

Ueli Huber

Karriere

Sprachen

Zulassung

Teams

Ueli
Huber