Ashurst advised private equity investor Chequers Capital on the refinancing of the existing liabilities of its portfolio company Cordenka

The refinancing volume amounts to €132.5 million. Chequers acquired the leading global manufacturer of industrial rayon yarn for the tire industry in 2011.

Barings Global Advisers Limited (Barings) and Goldman Sachs Bank USA (Goldman Sachs) (both senior lenders) as well as Commerzbank Aktiengesellschaft (super senior revolving facility lender) acted as lenders, Elavon Financial Services DAC, UK Branch (Elavon) as agent and US Bank Trustees Limited (US Bank Trustees) as security agent.

The Ashurst team was led by Frankfurt-based finance partner Anne Grewlich. She was assisted by senior associate Gabrielle Metherall, associate Emilie Veyran-Müller and trainee solicitor Jordan Walsh (all finance, Frankfurt). Partner Dr Maximilian Uibeleisen and associate Simon Groneberg (both Frankfurt) advised on regulatory law, partner Alexander Ballmann and associate Anna Geissler (both corporate, Munich) on corporate law. Partner Dr Martin Bünning (Frankfurt) covered tax aspects.