Restructuring of IVG Immobilien AG

Convertible Bondholders

A large group of institutional investors, comprising mostly of US and UK hedge funds, appointed our London attorneys to represent them as convertible bondholders in the restructuring of IVG Immobilien AG. IVG is a German-listed public company with approximately 550 employees at 19 locations in major German and European cities. It manages assets totaling over €21 billion with a particular focus on real estate and infrastructure. IVG also constructs and operates underground caverns for the storage of oil and gas in northern Germany as an investment in the area of energy infrastructure. In the fund sector, IVG is a market leader for special property funds for institutional investors.

IVG’s total debt amounted to around €4.2 billion at March 31, 2013. At that time, IVG’s Board of Management announced a “holistic restructuring” aimed at all levels of its capital structure and would coordinate with all relevant stakeholders in the coming weeks.


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