Allen & Overy advises banks on issue of bonds in connection with recapitalisation

Allen & Overy has advised ANOA Capital, quirin bank and Close Brothers Seydler Bank in connection with the issue of four series of bonds by Air Berlin in connection with its recapitalisation.

The fixed bonds have terms of five and seven years, denominations in euro and Swiss franc and a high-yield-style covenant package. The bonds have an aggregate principal amount of €250m (or the equivalent in Swiss franc).

Allen & Overy also advised the banks on an exchange offer to the holders of outstanding bonds due 2014 and 2015 issued by Air Berlin. The exchange offer allows bondholders to offer to exchange their notes for new notes due 2019 to be issued by Air Berlin, whereby holders have the option to exchange for notes denominate in euro or Swiss francs.

The Allen & Overy team comprised partners Gernot Wagner (US corporate finance) and Dr Oliver Seiler (international capital markets), counsel Dirk Eisel and Dr Knut Sauer and associate Dr Alexander Schlee (international capital markets, all Frankfurt).

Also involved were partner Jonathan Mellor and associate May Chiu (both international capital markets) in London, as well as partner Frank Mausen (international capital markets), partner Pierre Schleimer (banking) and associate Paul Peporte (international capital markets) in Luxembourg.

  • Print

Analysis from The Lawyer

  • Panel reviews

    Panel reviews 2014: The chosen ones

    Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all

  • training

    Accutrainee: Revolution postponed

    At the time of its launch Accutrainee was described as a revolutionary change to the training model. Has it proved to be so? Not really.

View more analysis from The Lawyer


One Bishops Square
E1 6AD

Turnover (£m): 1,234.30
No. of lawyers: 2,194 (UK 200)
Jurisdiction: UK
No. of offices: 11
No. of qualified lawyers: 273 (International 50)