GLAS performs several roles in the comprehensive restructuring and recapitalisation of the Consolis Group
GLAS is pleased to have been involved in the consensual restructuring of the Consolis Group, which was successfully completed on 28 November 2024 with support from the Group’s sponsor, noteholders, revolving credit facility lenders and PIK lenders.
A comprehensive, forward thinking restructuring plan
The restructuring involved a debt-for-equity swap of the Group’s €300 million senior secured notes for shares in the restructured group, the provision of a new secured exit facility and an extension to the maturity date of the group’s existing facility.
GLAS team integral to successful restructuring
GLAS performed a number of different roles on the transaction, including pre- and post-restructuring facility agent and security agent roles, notes trustee on the existing notes, and information agent on the consent solicitation process. GLAS is also acting as equity agent and holding period trustee in connection with the debt-for-equity swap.
About Consolis Group
The Consolis Group is a European manufacturer of precast concrete elements providing highly engineered and sustainable solutions for the building and utilities sectors.
About GLAS
GLAS was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market.
GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of $450bn of assets under administration on a daily basis. For more information, please contact media@glas.agency.
