Latham & Watkins Advises on Private Placement of IHO Verwaltungs GmbH

Latham & Watkins LLP has advised the placement agents on the tap issuance of IHO Verwaltungs GmbH’s existing high yield notes for a total aggregate amount of €320 million. The notes will be part of the same series of notes as IHO Verwaltungs GmbH’s 6.750% / 7.500% Sustainability-Linked Senior Secured PIK Toggle Notes due 2029 and 7.000% / 7.750% Sustainability-Linked Senior Secured PIK Toggle Notes due 2031 issued in October 2024.

A separate Latham & Watkins team represented institutional investors on the private placement.

The interest rates of the notes are linked to the achievement of certain specific sustainability targets based on IHO Verwaltungs GmbH’s Sustainability-Linked Financing Framework.

The Latham team advising the Placement Agents was led by Frankfurt capital markets/corporate finance partner Alexander Lentz and associate Laura Neumann.

The Latham team advising institutional investors was led by Munich capital markets/corporate finance partner Rüdiger Malaun, with counsel Camilla Kehler-Weiss and associate Tobias Müller.