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.