26 August 2014

Imtech: series of transactions to reduce leverage and increase liquidity

De Brauw Blackstone Westbroek has assisted Imtech in a series of transactions to reduce leverage and increase liquidity.

The transactions include:

  • a EUR 600 million rights issue
  • the EUR 255 million divestment of Imtech’s ICT division to Vinci S.A.
  • a Dutch auction to capture market discount on debt
  • an amendment of debt facilities, including covenant holiday through Q1-2016 to July 2017
  • a reduction in pricing, which requires the unanimous consent of 40+ financial institutions and will reduce Imtech’s EUR 1.2 billion debt by approximately 60%

De Brauw acted as exclusive counsel to Imtech in each of the restructurings, the rights issue and the ICT division divestment.​


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