Shearman & Sterling represented J.P. Morgan Securities plc and UniCredit Bank AG as the Initial Purchasers in connection with the offering by HP Pelzer Holding GmbH (the “Issuer”, and together with its consolidated subsidiaries, the “HP Pelzer Group”), of €230,000,000 aggregate principal amount of 7.500% Senior Secured Notes due 2021 (the “Notes”). The net proceeds from the issue and sale of the Notes will primarily be used to refinance existing debt obligations of the Issuer and acquire new assets. The Notes will be senior secured obligations of the Issuer and will be guaranteed by certain subsidiaries of HP Pelzer Holding GmbH. The offering, which was conducted pursuant to Rule 144A and Regulation S under the U.S. Securities Act, closed on July 31, 2014.
The HP Pelzer Group is a worldwide leader in the design, engineering and manufacturing of acoustic and thermal components for the automotive sector. The Group has production facilities and research & development facilities in 18 countries and sells its products to clients in 35 countries across Europe, Asia, the Americas and Africa. Its customers include Volkswagen, General Motors, BMW, Daimler and Ford, among others.