The Lumileds group, global leader in innovative lighting solutions, successfully completed a cross-border financial restructuring. After receiving support of more than 90% of its lenders, the Lumileds group entered into a restructuring support agreement with its lenders holding a significant majority of the loans outstanding under its prepetition first lien debt facility. The restructuring was implemented through US Chapter 11 proceedings and significantly de-leverages and strengthens the group’s balance sheet by over US$1.3 billion, accelerates its growth, and enables further investment in innovation to pursue additional strategic opportunities through the injection of up to US$275 million of liquidity.

The Loyens & Loeff restructuring team was led by Dutch partner Vincent Vroom and further consisted of among others senior associate Joris Dunki Jacobs and associate Madeline Snethlage, with the support of Freek Hilberdink (partner and civil law notary), Eline Viersen (senior associate and deputy civil law notary), Mayke Kamstra (senior associate and deputy civil law notary), Bart Wingen (tax adviser and senior associate), Sharita Willigenburg (senior associate Finance) and the broader corporate M&A, finance, capital markets and employment law teams.