Articles from Lumileds Holding B.V.

Lumileds Holding B.V. (“Lumileds” or the “Company”), a global leader in LED and microLED technology for the automotive, display, illumination, and mobile markets, today announced it has entered into a transaction with Gallant Capital Partners (“Gallant”), an operationally focused private investment firm. Gallant has acquired majority positions in the Company’s senior secured term loan credit facilities. 

Lumileds Holding B.V. (“Lumileds” or the “Company”), a global leader in innovative lighting solutions, has successfully completed its financial restructuring and emerged from Chapter 11, having reduced its funded debt by approximately $1.4 billion. With the restructuring transaction completed, Lumileds will be owned by a new group of long-term institutional investors, including Anchorage Capital Group, L.L.C., Nut Tree Capital Management, L.P., and Cerberus Capital Management, L.P.

Lumileds Holding B.V. (“Lumileds” or the “Company”), a global leader in innovative lighting solutions, announced today that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization (the “Plan”). Lumileds plans to emerge from the chapter 11 process (“Chapter 11”) the week of October 31 following the satisfaction of certain administrative items before the Plan becomes effective.

Lumileds Holding B.V. (“Lumileds” or the “Company”), a global leader in innovative lighting solutions, announced today that it has now received support for its restructuring from more than 90% of its lenders, representing an overwhelming majority of the loans outstanding under its prepetition first lien debt facility. The Company’s Restructuring Support Agreement (the “RSA”) was announced with the Company’s prepackaged Chapter 11 filing on August 29, 2022. The deadline to vote on the Company’s plan of reorganization (the “Plan”) is 5pm ET on September 16, 2022.

Lumileds Holding B.V. (“Lumileds” or the “Company”), a global leader in innovative lighting solutions, announced today that it has received interim approval from the U.S. Bankruptcy Court for the Southern District of New York (the “Court”) for all the first day motions related to its prepackaged Chapter 11 filed on August 29, 2022. The approved motions will immediately solidify the Company’s liquidity position and maintain normal course operations throughout the financial restructuring.

Lumileds Holding B.V. (“Lumileds” or the “Company”), a global leader in innovative lighting solutions, announced today that it has entered into a restructuring support agreement (the “RSA” or the “Agreement”) with its lenders holding a significant majority of the loans outstanding under its prepetition first lien debt facility on the terms of a comprehensive financial restructuring that would significantly de-leverage and strengthen its balance sheet by over $1.3 billion, accelerate Lumileds’ growth, and enable further investment in innovation to pursue additional strategic opportunities through the injection of up to $275 million of liquidity.