On 23 July 2018, Kongsberg Actuation Systems B.V., an indirect wholly-owned subsidiary of Kongsberg Automotive ASA (KOA:Oslo), issued EUR 275,000,000 5.000% Senior Secured Notes due 2025 under an indenture in a private transaction that was not subject to the registration requirements of the Securities Act of 1933.
The notes are guaranteed and secured by Kongsberg Automotive ASA and certain subsidiaries of Kongsberg Automotive ASA. The notes will be listed on the Official List of The International Stock Exchange.
Headquartered in Norway, Kongsberg Automotive is a provider of world class products to the global vehicle industry.
Latham & Watkins advised Kongsberg Actuation Systems B.V. as lead counsel. Loyens & Loeff advised Kongsberg Actuation Systems B.V. on the Dutch law and Swiss law aspects in connection with the issuance of the EUR 275,000,000 Senior Secured Notes. Loyens & Loeff further acted as counsel to KA Group AG, a direct wholly-owned subsidiary of Kongsberg Actuation Systems B.V., in the context of a super senior revolving facility provided by Danske Bank, Norwegian Branch, and J.P. Morgan Securities plc.
The Loyens & Loeff team consisted of partners Beat Baumgartner (Tax), Judith Raijmakers (Banking & Finance), Martijn Schoonewille (Banking & Finance) and Marco Toni (Corporate / M&A) as well as associates Jana Bieli (Corporate / M&A, Banking & Finance), Fons Leijten (Banking & Finance), Aurélien Pasquier (Corporate / M&A), Tim Schnezler (Banking & Finance) and Fabian Sutter (Tax).