Legal DealFolio - 3W Power Capital Increase with Subscription Rights

Ashurst advised 3W Power S.A., the Luxembourg-based holding company of AEG Power Solutions Group, a global provider of UPS systems and power electronic solutions for industrial, commercial, renewable and distributable energy markets, on its capital increase with subscription rights from authorised capital and a debt-to-equity swap. The two capital measures are the key elements of the restructuring plan, which 3W Power agreed with the creditors of its EUR100 million corporate bond in May 2014. The parties had agreed on a debt-to-equity swap of 50 per cent of the outstanding bond nominal value, the issuance of a new EUR50 million bond and a cash capital increase by contribution of EUR4 million with subscription rights for current shareholders. The German restructuring team led by partner Dr Ingo Scholz advised on the financial restructuring of 3W Power, which was brought to a successful conclusion in May 2014. 3W Power had instructed Ashurst following a beauty contest held in autumn 2013. The Ashurst team advising on the capital measures was led by partner Matthias von Oppen (equity capital markets ECM, rights issue and debt-to-equity-swap) and Dr Tobias Krug (debt capital markets DCM, bond issue), assisted by counsel Dr Gerrit Clasen, associate Joanna Wilczynska-Gluch (both ECM) and Alexandra Heitmann (DCM). Partner Heiko Penndorf and senior associate Felix Kruger covered tax aspects. Advice was also provided by lawyers from London, Paris, Milan and Madrid.

Deal Date:	27-08-2014	Practice Area:	Equity Capital Markets
Deal Title:	3W Power Capital Increase with Subscription Rights	Industry:	Electricity
Description:	Ashurst advised 3W Power S.A., the Luxembourg-based holding company of AEG Power Solutions Group, a global provider of UPS systems and power electronic solutions for industrial, commercial, renewable and distributable energy markets, on its capital increase with subscription rights from authorised capital and a debt-to-equity swap. The two capital measures are the key elements of the restructuring plan, which 3W Power agreed with the creditors of its EUR100 million corporate bond in May 2014. The parties had agreed on a debt-to-equity swap of 50 per cent of the outstanding bond nominal value, the issuance of a new EUR50 million bond and a cash capital increase by contribution of EUR4 million with subscription rights for current shareholders. The German restructuring team led by partner Dr Ingo Scholz advised on the financial restructuring of 3W Power, which was brought to a successful conclusion in May 2014. 3W Power had instructed Ashurst following a beauty contest held in autumn 2013. The Ashurst team advising on the capital measures was led by partner Matthias von Oppen (equity capital markets ECM, rights issue and debt-to-equity-swap) and Dr Tobias Krug (debt capital markets DCM, bond issue), assisted by counsel Dr Gerrit Clasen, associate Joanna Wilczynska-Gluch (both ECM) and Alexandra Heitmann (DCM). Partner Heiko Penndorf and senior associate Felix Kruger covered tax aspects. Advice was also provided by lawyers from London, Paris, Milan and Madrid.
Financial Center:	Frankfurt	Value:	0.00-100.00
Advised Party:	Issuer	Law Firm	Ashurst
Issuer Jurisdiction--	Luxembourg	Listing Jurisdiction--	Luxembourg
Classification:	Rights Issues	Lawyer	Matthias von Oppen

Practice Areas -

Equity Capital Markets Law Firms and Lawyers

Practice Areas - Equity Capital Markets Law Firms and Lawyers