Dentons advises promissory note loan creditors on a restructuring financing agreement with Webasto

Berlin/Frankfurt-Global law firm Dentons has advised the promissory note loan creditors of automotive supplier Webasto on the conclusion of a restructuring financing agreement.

Webasto has recently faced several challenges, including global geopolitical crises, weaker demand, fierce competition, and a general decline in planning reliability. Against this backdrop, the company launched a restructuring program at the end of 2024 to adapt its capacities to the changed market situation.

The financing agreement extends existing credit lines and promissory note loans totaling approximately €1.2 billion - including the approximately €90 million in outstanding loans owed to Dentons' clients - until the end of 2028. It also grants additional loans of €200 million. This agreement forms the basis for the operational realignment. A trust model was agreed upon to safeguard the interests of all parties involved. The main location in Stockdorf near Munich will continue to employ more than 2,000 people.

Webasto SE is an international system partner to the mobility industry, focusing on roof systems and electrification with batteries and thermal management solutions. With more than 50 locations, it is represented in all major automotive markets worldwide.

Advisors to the group of Webasto promissory note creditors

Dentons (Berlin/Düsseldorf/Frankfurt): Andreas Ziegenhagen (Lead Partner Restructuring, Berlin/Frankfurt), Oliver Dreher (Lead Partner Banking and Finance, Frankfurt), Hans Beyer (Partner, Restructuring, Frankfurt), Philippa Münnich-Winter, Dr. Detlef Spranger (both Counsel, both Berlin), Tobias Schröter (Senior Associate, Düsseldorf), Mariam Lomtatidze (Associate, Berlin, all Restructuring), Sven Henneke (Associate), Luis Anton Michalzik (Project Manager Legal, both Banking and Finance, both Frankfurt)

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