Private Credit 2025

GERMANY Law and Practice Contributed by: Michael Josenhans, Lucas Lengersdorf and Karl Kuhn, Freshfields

Freshfields is a leading international globally in - tegrated law firm offering clients dedicated ad - vice across all legal fields and industry sectors in all important economic regions. With over 2,800 lawyers and 29 offices in 18 countries across Europe, Asia and the USA, it is among the larg - est law firms in the world. The firm specialises in complex, cross-legal and cross-border mat - ters and combines in-depth industry knowledge

with innovative solutions to help its clients grow, strengthen and defend their businesses. In the finance sector, the firm’s advice covers corpo - rate finance, acquisition finance, leveraged fi - nance, real estate finance, financial restructur - ing, finance regulatory, equity and debt capital markets, securitisation and structured, project and asset finance.

Authors

Michael Josenhans advises on banking and finance matters with a focus on private credit and syndicated loan transactions, including corporate finance, acquisition finance, leveraged finance and infrastructure finance. He is a member of Freshfields’ global transactions group and of its private capital sector group. He has advised lenders, sponsors and borrowers for more than 20 years throughout Europe and the USA on the full range of credit and debt financings. His experience grants him a deep understanding of complex issues and the rapidly changing market. Numerous corporate clients, sponsors, banks and debt funds rely on his advice for their most important financings or capital restructurings.

Lucas Lengersdorf is a finance associate in Freshfields’ global transactions group. Currently based in the firm’s New York office, he specialises in national and international finance law,

with a particular focus on acquisition and corporate finance. Lucas advises private equity sponsors, private credit funds and corporate borrowers on a wide range of financing solutions, including term loan B, unitranche, HoldCo/PIK and bank/bond transactions.

Karl Kuhn is an associate in Freshfields’ global transactions group and is based in the firm’s Berlin office. He specialises in national and international finance law, with a particular focus on leveraged and corporate finance.

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