Airwave's scheme of arrangement restructures £1.8 billion of debt to facilitate completion of £817.5 million sale of Airwave to Motorola
Clients Guardian Digital Communications Limited
Jones Day acted for Guardian Digital Communications Holdings Limited, Guardian Digital Communications Limited and Airwave Solutions Limited (the "Group") (subsidiaries of Macquarie European Infrastructure Fund 2) in connection with the sale of Airwave Solutions to Motorola for £817.5 million.
In order to facilitate the sale, Jones Day also advised the Group in connection with a restructuring of £1.8 billion senior secured liabilities owed to a syndicate of lenders implemented by way of an English law scheme of arrangement. This scheme comprised one of the largest restructurings in the market in 2015.
Airwave Solutions is the world's largest private operator of a public safety network whose customers include emergency and public service agencies in the United Kingdom. It therefore forms an integral part of the United Kingdom’s infrastructure and provides a service of great public importance.