Ashurst advised Ares Management Limited (Ares) and Bremer Kreditbank Aktiengesellschaft (BKB Bank) on the refinancing of the Zarges Tubesca Group (Zarges), a leading manufacturer of aluminium-based climbing gear and logistics products. The new refinancing arrangements include a unitranche facility provided by Ares, which is structured as a bearer bond, and a super senior revolving credit facility provided by BKB Bank. The parties have agreed not to disclose the financing volume.

Ashurst has a market leading practice in advising on unitranche financings, which are being increasingly granted in the German market. Most recently, Ashurst advised on the unitranche financings of Kartesia, Rantum, Proventus and other internationally active credit funds.

The Ashurst team advising Ares comprised:

partner Dr Bernd Egbers (lead), counsel Carsten Endres, senior associate Dr Karsten Raupach, associate Isabell Pöller, transaction manager Anna Caterina Zoth (all finance, Munich); partner Dr Tobias Krug (capital markets, Frankfurt).

The Ashurst team advising BKB Bank comprised:

partner Anne Grewlich (lead), counsel Dr Oliver K Hahnelt, associate Gabriele Metherall and transaction lawyer Emilie Veyran-Müller (all finance, Frankfurt).

Partner Heiko Penndorf and senior associate Dr Susanne Koch advised on the tax aspects.

In addition, finance lawyers from the following Ashurst offices supported:

London: partner Paul Stewart and senior associate Sophia Yeung.
Paris: associate Daniela Kotzeva.
Stockholm: associate James Frixou.