Latham advises Comdata on comprehensive Debt Redefinition

A Latham & Watkins cross-border team has advised Comdata Group on its debt redefinition, strengthening its capital structure

Comdata Group, a leading global service provider in Customer Management, has announced that it has reached an agreement with its financial partners that will significantly strengthen the company’s balance sheet and will accelerate the future development of the business.

As a result of this agreement, Comdata’s financial indebtedness will be significantly reduced and the reinstated debt will be characterized by more favourable interest payment terms. The management of the company will increase its minority shareholding to 40%, with 50 keys managers participating in the equity structure, alongside sponsor Carlyle, while financial creditors will convert part of their debt into equity-like participating financial instruments.

Comdata is a leading innovative global service provider in Customer Management BPO with 30 years’ experience. The company combines an international footprint with strong local expertise, with more than 50,000 passionate employees working in 30 languages across 4 continents and 21 countries.

Latham & Watkins advised Comdata on the transaction with a cross-border team led by Milan partner Marcello Bragliani . Advise was also provided on Restructuring matters by the London office, on Finance matters by London, Paris and Madrid offices, with partner Fernando Colomina (pictured left) and associate Pablo Alarcon, and on Corporate matters by Madrid partner Igancio Pallarés (pictured right) and associates Ori Assa and Carmen Esteban.