German BaFin permits origination, restructuring and prolongation of loans to German borrowers by certain funds without a banking licence

Co-authored by Ludger Kempf.
A major topic in domestic and international restructurings that involve German borrowers is whether or not the grant of a new loan or the restructuring or prolongation of existing loans in the context of such restructuring by investors, such as special situation funds, requires a German banking licence.
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