June 15, 2026
Willkie recently represented Deutsche Bank AG, London Branch in its $900 million amended and restated first-out super-senior debtor-in-possession financing facility (the "A&R Senior DIP Facility") to Marelli North America, Inc. and its affiliates ("Marelli"), a leading global technology partner to the automotive industry.
The A&R Senior DIP Facility allowed Marelli to address the maturity of its existing first-out super-senior DIP facility (the "Senior DIP Facility"), advanced additional new money loans to Marelli and provided existing Senior DIP Facility lenders the opportunity to "roll" into the A&R Senior DIP Facility. In connection with the A&R Senior DIP Facility, existing DIP lenders under Marelli's existing junior DIP financing facility also agreed to provide an additional $300 million of new money second-out DIP loans (the "Amended Junior DIP Facility"). The bankruptcy court approved the A&R Senior DIP Facility and Amended Junior DIP Facility on June 8, 2026, and the DIP facilities closed and funded on June 12, 2026.
On July 11, 2025, Marelli commenced its voluntary chapter 11 cases to effectuate a comprehensive restructuring of its long-term debt obligations, supported by approximately 80% of Marelli’s prepetition lenders. Willkie also represented Deutsche Bank in its original $865 million Senior DIP Facility to support the contemplated restructuring transactions.
The Willkie team was led by Restructuring partners Joseph G. Minias and Jennifer Hardy and Finance partners Daniel Durschlag and Weston T. Eguchi with counsel Jessica Tjang.
The A&R Senior DIP Facility allowed Marelli to address the maturity of its existing first-out super-senior DIP facility (the "Senior DIP Facility"), advanced additional new money loans to Marelli and provided existing Senior DIP Facility lenders the opportunity to "roll" into the A&R Senior DIP Facility. In connection with the A&R Senior DIP Facility, existing DIP lenders under Marelli's existing junior DIP financing facility also agreed to provide an additional $300 million of new money second-out DIP loans (the "Amended Junior DIP Facility"). The bankruptcy court approved the A&R Senior DIP Facility and Amended Junior DIP Facility on June 8, 2026, and the DIP facilities closed and funded on June 12, 2026.
On July 11, 2025, Marelli commenced its voluntary chapter 11 cases to effectuate a comprehensive restructuring of its long-term debt obligations, supported by approximately 80% of Marelli’s prepetition lenders. Willkie also represented Deutsche Bank in its original $865 million Senior DIP Facility to support the contemplated restructuring transactions.
The Willkie team was led by Restructuring partners Joseph G. Minias and Jennifer Hardy and Finance partners Daniel Durschlag and Weston T. Eguchi with counsel Jessica Tjang.
