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Lawyers

Michael Taufner

Lawyers

Advises arrangers, lenders, sponsors and corporate borrowers on leveraged finance transactions, with a focus on secured, unsecured and PIK high-yield debt securities.

Michael advises clients on the high-yield bond, bridge and loan components of public and private acquisition financings, refinancings, recapitalizations and out-of-court debt restructurings.

He has acted on leveraged finance transactions involving Advent International, Bain Capital, Carlyle, Cinven, GIC, GoldenTree, Starwood Capital, Strategic Value Partners and TDR. He has experience across various industries, including chemicals, defense, energy, financial services, food and beverage, healthcare, manufacturing and industrials, hospitality and lodging, packaging, real estate, retail and telecommunications.

Michael is recognized by IFLR1000 for his debt capital markets work.

Capabilities
Capabilities
Languages
German
Languages
German

Experience

Michael’s representations prior to joining Davis Polk include:

Leveraged Buyouts – Public
  • Bain Capital and Cinven in €1.3 billion of high-yield offerings to finance their takeover of STADA Arzneimittel AG
  • Advent International in a $900 million high-yield offering to finance its takeover of Ultra Electronics Holdings plc
  • Starwood Capital on the financing aspects of its takeover offer for CA Immobilien Anlagen AG
  • Bain Capital and Carlyle on the financing aspects of their takeover offer for OSRAM Licht AG
Leveraged Buyouts – Private
  • Advent International, Cinven and RAG-Stiftung in a €6.7 billion high-yield offering to finance their carve-out acquisition of TKE
  • Advent International, Bain Capital and Clessidra in a €1.1 billion high-yield offering to finance their acquisition of Nexi
  • Advent International in a €750 million high-yield offering to finance its acquisition of IRCA
  • KKR in a €475 million high-yield offering to finance its acquisition of SBB Serbia
  • Bain Capital in a €450 million high-yield offering to finance its acquisition of Diversey
  • Astorg in a €350 million high-yield offering to finance its acquisition of Kerneos
  • Bain Capital in a €225 million high-yield offering to finance its acquisition of Wittur
Refinancings and Recapitalizations
  • STADA in €4.6 billion of high-yield offerings
  • Nexi in €3.9 billion of high-yield offerings
  • Algeco in €1.7 billion of high-yield offerings
  • Smurfit Kappa in €750 million of high-yield offerings
  • Sani/Ikos in €650 million of high-yield offerings
  • Travelodge in a £390 million high-yield offering
  • kp in a €300 million high-yield offering
  • Brakes in a £200 million high-yield offering
  • MEIF in a £190 million high-yield offering
  • The initial purchasers in a €500 million high-yield offering by Samvardhana Motherson
  • The initial purchasers in a €200 million high-yield offering by Merlin
  • The initial purchasers in a €150 million high-yield offering by TwinSet
Special Situations, Credit Opportunities and Debt Tender Offers
  • Ad hoc committees on a recapitalisation of Matalan, an exchange offer by WiZink, a restructuring of Olympic Entertainment Group, an enforcement over Lebara and an exchange offer by HETA Asset Resolution AG
  • Various issuers and dealer mangers on unmodified Dutch auction tender offers, waterfall knock-out tender offers, refinancing tender offers and exchange offers

Recognition

IFLR1000 – Capital Markets: Debt, United Kingdom

Education

LL.M., Columbia Law School
  • Harlan Fiske Stone Scholar
Doctorate, Corporate Law, University of Vienna
  • with honors
Master, Law, University of Vienna
  • with honors

Prior experience

  • Partner, Kirkland & Ellis, 2013-2024

Qualifications and admissions

  • State of New York
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