Loyens & Loeff Luxembourg wins ‘High Yield Deal of the Year’ at IFLR Europe Awards 2020
Loyens & Loeff Luxembourg was awarded for their legal and tax advice on the high yield bonds financing of the Bain Capital’s acquisition of Kantar from WPP.
The awards were announced online today as, exceptionally this year, the traditional annual ceremony due to be organised in London, couldn’t be held because of the coronavirus sanitary measures.
In the winning deal, Loyens & Loeff acted for Goldman Sachs Bank USA, as part of a syndicate of banks (including BoAML, Barclays, Credit Suisse, Deutsche Bank, Mizuho, Morgan Stanley, Natwest, Nomura and RBC) as legal advisers on a $ 3.257bln financing for Bain Capital’s acquisition of a majority stake in Kantar from the British multinational advertising and public relations firm WPP. The financing was a mixture of dollar- and euro-denominated leveraged loans and high yield bonds.
The $ 3bln financing was composed of
- a € 1.475bln notes offering consisting of (i) € 1bln 5.750% senior secured notes due 2026 and (ii) € 475mln 9.250% senior notes due 2027, issued by Luxembourg private limited liability companies, and
- approximatively $ 1.782bln senior facilities.
The notes were secured by post-closing security granted by, inter alia, Luxembourg companies of the group.
Our Banking & Finance and Capital Markets teams, respectively led by Anne-Marie Nicolas and Cédric Raffoul, combined their expertise in advising Goldman Sachs in this transaction. The team also included: Elie-Raphaël Soudry (Senior Associate), Sixtine Auguet (Associate) and Marko Huskic (Associate).
The annual IFLR Europe awards celebrate legally innovative cross-border transactions in the region. IFLR1000 shortlisted Loyens & Loeff for seven awards at the 2020 edition. The shortlist is based on preliminary research conducted by IFLR that included direct written nominations and interviews with law firm partners, in-house teams and clients.
Anne-Marie NicolasPartner Attorney at Law / Avocat à la Cour
Anne-Marie Nicolas, partner, is a member of the Banking & Finance Practice Group in our Luxembourg office. She co-heads the Luxembourg Restructuring Team. Anne-Marie focuses on secured lending, including acquisition finance and real estate finance, as well as debt restructuring.T: +352 466 230 314 E: [email protected]
Elie-Raphaël SoudryCounsel Attorney at law
Elie-Raphaël Soudry, counsel, is a member of the Banking & Finance Practice Group in our Luxembourg office. He focuses on secured lending, including acquisition and real estate finance as well as transportation finance.T: +352 466 230 320 E: [email protected]