Lumileds Holding B.V. (Lumileds) a global leader in innovative lighting solutions, announced that it has entered into a restructuring support agreement with its lenders holding a significant majority of the loans outstanding under its prepetition first lien debt facility on the terms of a comprehensive financial restructuring that would significantly de-leverage and strengthen its balance sheet by over US$1.3 billion, accelerate Lumileds’ growth, and enable further investment in innovation to pursue additional strategic opportunities through the injection of up to US$275 million of liquidity.
Latham & Watkins LLP represents Lumileds as restructuring counsel with a cross-practice and cross-border team led by Global Chair of the Restructuring & Special Situations Practice George Davis and New York partners George Klidonas and Anu Yerramalli, with associates Misha Ross, Liza Burton, Chris Beaucage, Alistair Fatheazam, Randall Weber-Levine, Scott Yousey, Ali Zablocki, Whit Morley, and Cáit O’Neill. The bankruptcy litigation team was led by New York partner Chris Harris and Boston counsel Betsy Marks, with associates Signa Mahung and Leandra Joseph. Advice was also provided on environmental matters by Washington, D.C. partner Stacey VanBelleghem, with associate Peter Viola; on capital markets matters by New York partner Erika Weinberg, with associates Sara Johnson and Adam Picker; on finance matters by New York partner Nicole Fanjul, with associate Daniel Ovadia; on employee compensation and benefits matters by New York counsel Rifka Singer, with associate Alisa Hand; on tax matters by Chicago partner Joe Kronsoble and Washington, D.C. partner Nick DeNovio, with associate Pierce Pandolph; on insurance matters by San Diego partner Drew Gardiner; on intellectual property matters by Washington, D.C. partner Morgan Brubaker; on antitrust matters by New York partner Katherine Rocco and Washington, D.C. counsel Patrick English; on corporate matters by New York partner Daniel Mun and Century City counsel Michael Montgomery; on German matters by Hamburg partner Frank Grell and Frankfurt/Hamburg counsel Daniel Splittgerber; and on real estate matters by Los Angeles partner Kim Boras.
