Deals & Cases

Homburger advised the co-ordinating-committee of ED&F Man's senior creditors on the USD 1.5 bn restructuring of ED&F Man

On March 31, 2022, ED&F Man, one of the largest agricultural commodities traders worldwide, successfully implemented its UK restructuring plan. The procedure allowed ED&F Man to restructure its borrowing base and revolving credit facilities, its term loan facilities, its private placement notes and its liabilities under a settlement agreement, and to amend its constitutional documents, under one procedure.

The restructuring provides for an injection of USD 300 m of new money, which supports the future success of ED&F Man’s trading business since it had to face significant pressures arising out of the COVID-19 pandemic and soaring commodity prices.

Homburger advised the co-ordinating-committee of ED&F Man’s senior creditors with respect to all aspects of Swiss law of the financing transaction. The Homburger team was led by partner Jürg Frick (Financing and Investment Products) and included partner Stefan Oesterhelt (Tax) and associate Andrea Ziswiler (Financing and Investment Products).