Overview
Paris, April 7, 2022 – McDermott Will & Emery has advised Figeac Aéro, a player in the aeronautical subcontracting industry, in the context of the agreement with all of its financial partners.
An agreement has been reached for conducting a series of indissociable operations leading to the financial restructuring of the Group, within the framework of an ad hoc mandate and under the aegis of CIRI.
These operations include:
- The consolidation of Figeac Aéro‘s equity capital via a reinforcement of Tikehau Ace Capital’s investment by means of a reserved capital increase;
- An agreement with Figeac Aéro‘s banking partners on the rescheduling of existing financing until 2028 and the obtaining of new EMPs;
- A partial buyback of the 2022 ORNANEs and a proposal to modify the terms of the 2022 ORNANEs, including (i) an extension of the maturity of the 2022 ORNANEs to October 2028, (ii) an increase in the conversion ratio, and (iii) an increase in the coupon rate;
- A strengthening of the Board of Directors.
These transactions are interrelated and remains subject to regulatory approvals.
McDermott also advised Mr Jean-Claude Maillard in the negotiations with Tikehau Ace Capital.
This financial restructuring should provide Figeac Aéro with the financial means necessary for its redeployment and enable it to meet its modified financial commitments in the short and medium term.
The McDermott team that advised Figeac Aéro comprised:
– Guillaume Kellner and Nicolas Lafont, partners.
