Lumileds Wins Over 90% Lender Support for Restructuring and Recapitalization

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SAN JOSE, Calif.–(BUSINESS WIRE)–Lumileds Holding BV (“Lumileds” or the “Company”), a global leader in innovative lighting solutions, today announced that it has received support for its restructuring from more than 90% of its lenders, representing a overwhelming majority of outstanding loans under its senior credit facility prior to the petition. The Company’s Restructuring Support Agreement (the “RSA”) was announced with the Company’s prepackaged Chapter 11 filing on August 29, 2022. The deadline for voting on the Company’s plan of reorganization (the “plan”) is September 16, 2022 at 5:00 p.m. ET. .

“The decision by the vast majority of Lumileds’ lenders and future sponsors to sign the RSA is another step in our overall financial restructuring and demonstrates their continued confidence in Lumileds’ strong business fundamentals to drive market-leading innovation in the ‘future,’ said Matt Roney, CEO of Lumileds. “We appreciate the overwhelming support from our lenders and all of our stakeholders, who recognize the long-term value we can create with a balance sheet that aligns with the strength of our operating businesses.

An overwhelming majority of the company’s lenders and future sponsors have pledged support for the narrowly focused Chapter 11 plan and are participating in its $275 million debtor-in-possession (“DIP”) financing, which was syndicated after its approval by the Court as part of the Society’s first-day motions. The financing provides increased liquidity for the company to continue to meet its outstanding obligations in the normal course of its full financial restructuring, which will significantly reduce the balance sheet by more than $1.3 billion, provide additional capital to accelerate the growth of Lumileds and will allow new investments. in innovation to pursue additional strategic opportunities.

For more information about the Lumileds Restructuring, including access to court documents, please visit https://dm.epiq11.com/Lumileds or contact Epiq Corporate Restructuring, LLC, the Notice and Claims Agent of the company at +1 800-497-9116 (for free domestic calls) and +1 503-520-4495 (for chargeable international calls) or email Lumiledsinfo@epiqglobal.com.

Evercore acts as an investment banker for the Company; Paul, Weiss, Rifkind, Wharton & Garrison, LLP, and Latham & Watkins LLP are acting as corporate and restructuring counsel for Lumileds, and AlixPartners, LLP is acting as financial advisor. PJT Partners is acting as financial advisor to an ad hoc group of Lumileds lenders, and Gibson, Dunn & Crutcher LLP is acting as group legal advisor.

About Lumileds

Lumileds is a global leader in OEM and aftermarket automotive lighting and accessories, camera flashes for mobile devices, MicroLEDs and light sources for general lighting, horticulture and center centric lighting. the human. Our more than 7,000 employees operate in more than 30 countries and partner with our customers to provide unprecedented solutions in lighting, security and well-being. To learn more about our company and our solution portfolios, please visit https://lumileds.com.

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