Senvion FY18 Results Delayed, Advisors Hired For Restructuring Talks - 3Q18 Report

27 March 2019

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Over the past few weeks (since our 3Q18 report of 11 February), Senvion, the German manufacturer of wind turbines, has delayed release of its FY18 results, revised FY18 guidance lower, fully drawn down on its EUR 125m RCF, and announced the appointment of key advisors for restructuring talks.

The company hired Kirkland & Ellis as legal advisor, PJT Partners as financial advisor and appointed Neil Robson from THM Partner as Chief Restructuring Officer. Senvion’s majority shareholder, Centerbridge, mandated Latham & Watkins as legal advisor.