Benjamin Bierwirth

Benjamin’s practice focuses on corporate finance transactions with a particular emphasis on high yield debt offerings. Benjamin regularly acts for corporations, private equity funds, investment banks and underwriters on leveraged finance transactions involving high yield debt offerings and commitment financing processes. Benjamin also regularly works on the syndicated loan side of transactions as well as liability management transactions, including debt exchange and tender offers. Benjamin’s practice also includes the representation of corporations in connection with complex cross-border Rule 144A and Regulation S debt offerings and restructurings.

• Acting for the initial purchasers in connection with the issuance by Vía Célere Desarrollos Inmobiliarios, S.A. of EUR 300 million aggregate principal amount of 5.25% senior secured high yield green bonds due 2026. The transaction represented the first green bond ever issued by a residential developer in the Euro market.
  
  
• Acting for the initial purchasers in connection with the issuance by Neinor Homes, S.A. of EUR 300 million aggregate principal amount of 4.50% senior secured high yield green bonds due 2026. The transaction represented the first green bond ever issued by a residential developer in the Euro market.
  
  
• Acting for the initial purchasers in connection with the issuance by AEDAS Homes OpCo, S.L.U., a subsidiary of AEDAS Homes, S.A., of EUR 325 million aggregate principal amount of 4.00% senior secured high yield green bonds due 2026.
  
  
• Acting for the initial purchasers in connection with the issuance by VTR Comunicaciones SpA, a subsidiary of Liberty Latin America, of USD 410 million aggregate principal amount of 4.375% senior secured notes due 2029.
  
  
• Acting for the initial purchasers, solicitation agents and lenders in connection with the implementation of a new global funding structure by Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company. The transaction included the issuance by Encore of EUR 350 million aggregate principal amount of 4.875% Senior Secured Notes due 2025 and a consent solicitation with respect to Cabot Financial (Luxembourg) S.A. and Cabot Financial (Luxembourg) II S.A., indirect subsidiaries of Encore, outstanding GBP 512.9 million 7.5% Senior Secured Notes due 2023 and EUR 400 million Senior Secured Floating Rate Notes due 2024 to enlarge the restricted group to encompass Encore and its subsidiaries and amend and restate the existing intercreditor agreement for the new financing structure. This transaction was shortlisted for IFLR Americas 2021 high yield deal of the year.
   
• Acting for the initial purchasers in connection with the issuance by VTR Finance N.V. and VTR Comunicaciones SpA, subsidiaries of Liberty Latin America, of USD 550 million aggregate principal amount of 6.375% senior notes due 2028 and USD 600 million aggregate principal amount of 5.125% senior secured notes due 2028, respectively.
  
  
• Acting for the initial purchasers on the USD 2.1 billion (equivalent) dual-tranche high yield bond offering by certain subsidiaries of Teva Pharmaceutical Industries Limited, comprised of a USD 1 billion 7.125% five-year tranche and a EUR 1 billion 6.000% five-year tranche. Advised the dealer managers on the concurrent 3 tiered priority-acceptance tender offer to purchase up to USD 1.5 billion of certain of its other outstanding bonds.
  
  
• Acting for the initial purchasers in connection with the issuance by Cabot Financial (Luxembourg) II S.A. of EUR 400 million aggregate principal amount of senior secured floating rate notes due 2024.
  
  
• Acting for the lenders with respect to a USD 2.3 billion credit facility for Teva Pharmaceutical Industries Limited and certain of its subsidiaries. 
  
  
• Acting for the board of directors of TelePizza Group, S.A. on the financing aspects of KKR’s offer for TelePizza Group, S.A., including EUR 335 million of high yield bonds.

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