Dentons has represented Benteler's promissory note holders in connection with the automotive supplier's approximately €2 billion refinancing. The Benteler Group recently successfully placed secured bonds in the equivalent of €975 million with international investors in Europe and the US. It also secured new credit lines until 2028 - a loan facility of €800 million and a revolving credit facility of
€250 million. The refinancing was originally not expected to take place until the end of 2024 and was completed early due to the good development of the company's results.
Benteler Group, a family-owned company with around 100 locations in almost 30 countries and approximately 28,000 employees worldwide, is one of Europe’s largest automotive suppliers. The group holding company is headquartered in Salzburg, while the operating business is managed from the two German division parent companies, Benteler Automobiltechnik GmbH and Benteler Steel/Tube GmbH, both based in Paderborn. In addition to Germany, Benteler's main locations are in China, the US, France, Spain, and the Czech Republic.
A Dentons team led by Andreas Ziegenhagen represented the promissory note holders in connection with the refinancing and handled the overall coordination of the group of promissory note holders.
Advisors to promissory note holders:
Dentons (Berlin/Frankfurt/Amsterdam): Andreas Ziegenhagen (Partner, lead, Berlin/Frankfurt, Restructuring), Oliver Dreher (Partner, Banking and Finance, Frankfurt), Dr. Detlef Spranger (Counsel, Restructuring), Philippa Münnich-Winter (Senior Associate, Banking and Finance), Franziska Nordmann, Konrad Böning (both Associate, Restructuring, all Berlin).