Shearman & Sterling LLP represented the initial purchasers, led by Credit Suisse, Deutsche Bank and J.P. Morgan in connection with the offering of Senior and Senior Secured Notes by several Kabel BW affiliates in an aggregate amount of approximately €2 billion.

Shearman & Sterling is a market leader for high yield debt transactions by German issuers. In 2010, the firm advised the banks in connection with the first issue of German law governed secured high yield bonds under the German Bond Act (Schuldverschreibungsgesetz) for Continental AG, among other transactions.

The Shearman & Sterling team advising the initial purchasers for the Kabel BW transaction included partners Stephan Hutter and Katja Kaulamo (Frankfurt-Capital Markets), Esther Jansen (Frankfurt-European Finance) and Johannes Frey (Munich-Tax), and associates Alexander Schiel and Simon Weiß (Frankfurt-Capital Markets), Norbert Mückl (Munich-Tax) and Derrick Kershaw (New York-Tax).

Shearman & Sterling also advised Deutsche Bank and J.P. Morgan in connection with the contemplated IPO of Kabel BW in connection with a dual track sales process which led to the sale of the company to Liberty Global.