Latham & Watkins LLP regularly applies its expertise in German and US law in high-yield bonds matters - particularly in the real estate sector; this is considered a particular strength of the team and frequently leads to instructions relating to the set-up of high-yield products. Here, the group primarily acts on the issuer side, but is also instructed by banks. Recent market conditions further contributed to an increasing number of restructuring-related instructions, while sustainable financing, including green bonds and sustainability-linked bonds, also frequently increase the workload. Dedicated to this range of topics, both Alexander Lentz and practice head Rüdiger Malaun focus on high-yield bonds, but are also adept at assisting with investment-grade bonds. Jan Penselin (high-yield, cross-over bonds, liability management transactions) made partner in January 2023.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
'Strong team right down to the details and eventualities.'
'Very good understanding of the economic context and effects, always keeping an eye on the big picture.'
'Alexander Lentz is a great holistic consultant with very deep detailed knowledge and an eye for connections that go beyond the legal.'
'Rüdiger Malaun has an extremely strong network within the financial and banking sectors. He makes the difference.'
Key clients
- ACCENTRO Real Estate AG
- BayWa AG
- CECONOMY AG
- Cheplapharm
- Deutsche Bank
- DIC Asset AG
- Grünenthal
- Löwenplay / Safari Holding Verwaltungs GmbH
- Morgan Stanley
- RENK GmbH
- Safari Holding Verwaltungs GmbH
- TUI Cruises
Work highlights
- Advising ACCENTRO Real Estate AG, an investor in residential real estate and Germany's leading housing privatisation company, on a comprehensive refinancing (Amend & Extend).
- Advising the banking consortium on the placement of a secured sustainability-linked PIK Toggle high-yield bond from IHO Holding with a volume of €500 million and a term of five years.
- Advising CHEPLAPHARM Arzneimittel GmbH on the issue of senior secured bonds under New York law (144A/Reg S) with a total nominal amount of €750 million due in May 2030.
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Practice head
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Rüdiger Malaun