Cuatrecasas advises Standard Profil Automotive on a high-yield bond issue
Cuatrecasas has advised Standard Profil Automotive and its subsidiaries in Spain and Mexico on a high-yield issue of senior secured bonds for a maximum amount of €145 million as part of the financial restructuring of the Standard Profil Group. The bonds are governed by New York law and mature in 2030.
The financial restructuring was carried out in accordance with a scheme of arrangement under section 26 of the UK Companies Act 2006, which was approved by the High Court of Justice of England and Wales. The transaction has enabled Standard Profil Automotive GmbH to strengthen its financial position and capital structure, as well as boost its growth potential.
The jurisdictions affected by the transaction were Germany, New York, Spain, Mexico, Bulgaria, Luxembourg and Turkey. Cuatrecasas participated in this cross-border transaction with the interdisciplinary collaboration of other English, US and international law firms.
The firm team responsible for advising on the transaction was led by lawyers from the Commercial and Finance group Jaime de la Torre, Álvaro Heras, Miguel Sainz de los Terreros (Madrid) and Gizeh Polo, León López and Ricardo Isaac Medina (Mexico City).
