Latham & Watkins has advised independent finance company HayFin Capital Management LLP (Hayfin) on its €75 million loan to Auto-Teile-Unger (A.T.U.) Group, a German car parts retailer. A.T.U. Group has just recently completed a restructuring of its financial obligations and equity structure under the UK administration process.

Under the restructuring deal, existing bondholders Centerbridge, Babson and funds managed by Goldman Sachs have acquired new shares in the restructured group, while the €75m Hayfin loan – a term loan and revolving credit facility – has been made available to the operating companies.

Latham & Watkins advised Hayfin on the deal with a cross-border team led by London finance partner James Chesterman, with partner Reena Gogna and associates Aymen Mahmoud, Helena Potts and Helen Matchwick. The German deal team was led by Munich finance partner Christian Jahn, with Hamburg associate Frederick Staudacher and Munich associate Stephanie Aschenbrenner. Hamburg partner Götz T. Wiese and associate Philipp Lukas provided tax advice.