Restructuring Infraserv Power subsidiary T2C

Sektor(en)
Business Services / Industrie
Dealtyp
Restrukturierung
Datum
Juni 2015
Beteiligte Länder
Germany

Kunde

Infraserv Höchst Group generates approx. 1 billion in revenues annually. They are a owner operator of several process industries sites across GSA. Their services entail utilities, professional waste disposal and the consistently efficient, carefully coordinated management of infrastructure, logistics, processes and facilities.

Transaktion

Capitalmind acted as an exclusive financial restructuring advisor to Infraserv Höchst GmbH & Co KG

Parteien

Projektleitung

  • Ervin Schellenberg

    Ervin Schellenberg

    Managing Partner Germany

What we did

Capitalmind acted as an exclusive financial restructuring advisor to Infraserv Höchst GmbH & Co KG, a Sanofi SA, Clariant AG and Celanese Inc, subsidiary on the restructuring of € 350m euros of debt and equity financing for their new built RDF power plant.

About the deal

The plant suffered from a significant completion and cost overrun and a breakdown of the market for RDF fuel in Germany.  Capitalmind developed a comprehensive restructuring concept, negotiated a standstill and subsequently a restructuring agreement with the lenders and other stakeholders. In the course of the transaction a partial write off of senior debt and mezz incl. minority equity by 3i as well as extensions and changes to the amortization plan and a subordination of parts of debt was achieved.

By right sizing the balance sheet to the company’s debt capacity and matching the payments to the lenders to the company’s cash flows the company was enabled to finish the construction of the plant which today is successfully operating. Ultimately Capitalmind ultimately negotiated a debt buy back for their client Infraserv.