Whitetip Investments AEPEY (“Whitetip”) serves as exclusive financial advisor to Folli Follie Group (“FFG”) for the restructuring of total value EURO 436m unsecured creditors claims. FFG announced on November 26th that it reached an agreement in principle on the financial terms for its financial restructuring. FFG is a global retailer of clothes, cosmetics and jewelry, with presence in over 30 countries. Whitetip delivered a creative solution and demonstrated unparalleled capabilities in understanding creditors’ and company’s objectives.
As the Announcement as it was published by the Athens Exchange Group states:
” The Board of Directors (the “Board”) of Folli Follie Commercial Manufacturing and Technical Societe
Anonyme, under the distinctive title “FF Group” (hereinafter the “Company” or “FF SA”,
and
together with its subsidiaries, the “Group”) today announces that on 26 November 2019,
it reached
an in principle agreement on the commercial terms for its financial restructuring1 with an
ad hoc
group of creditors consisting of the following (the “Unsecured Creditors’ Committee”):
(a) the lender under the €20,000,000 Schuldschein loan due 2021 issued by FF Group
Finance
Luxembourg II SA (“LuxCo II”) and guaranteed by the Company (the “20m Schuldschein”);
(b) the lender under the €31,000,000 Schuldschein loan due 2021 issued by LuxCo II and
guaranteed by the Company (the “31m Schuldschein” and together with the 20m
Schuldschein, the “Schuldschein”); and
(c) an ad hoc committee of holders of the €249,500,000 1.75 per cent. Guaranteed
Exchangeable Notes due 2019 issued by FF Group Finance Luxembourg SA and
guaranteed
by the Company (the “Eurobonds”), together holding in aggregate approx. 26.4% of the
principal amount of the Eurobonds ”
Read the full Announcement as it was published by the Athens Exchange Group, on the following link: https://bit.ly/34EKNuw
