Baker McKenzie has advised initial purchasers Morgan Stanley, Credit Suisse, HSBC, DNB Markets, Lloyds Bank Corporate Markets Wertpapierhandelsbank, MUFG, NatWest Markets and Santander in connection with the issuance by Cabot Financial (Luxembourg) II S.A. of €400 million aggregate principal amount of senior secured floating rate notes due 2024.
Morgan Stanley, Credit Suisse, HSBC and DNB Markets were joint book-runners and joint global coordinators, and Lloyds Bank Corporate Markets Wertpapierhandelsbank, MUFG, NatWest Markets and Santander were joint book-runners.
The Baker McKenzie team was led by London based partners Rob Mathews, Haden Henderson, Geoff O'Dea and David Becker and included Laurent Fessmann (Luxembourg) and Kai Kramer (New York), senior associates Ben Bierwirth (London), Nick Cusack (London) and Sven Bates (London), and associates Samantha Greer (London), Matt Mazenier (London), Sonali Maulik (London), Kristen Roth (London), Simon Foster (London), Alexis Bouvet (Luxembourg) and Aline Koenig (Luxembourg). Partner Simon Porter and associate Stefanie Lim (both London) represented J.P. Morgan Europe Limited who acted as security agent.
Mathews said: "It has been a great opportunity for us to work on this high profile transaction with Cabot and its financial advisors. This transaction showcases our growing leveraged finance capabilities across our full service bank/bond US/UK law platform."
The transaction was priced on June 6, 2019 and closed on June 14, 2019.
The gross proceeds of the offering were be used, along with cash on hand, to redeem in full Cabot Financial (Luxembourg) S.A.’s £80 million senior secured notes due 2021 and pay accrued interest thereon, redeem in full Cabot Financial (Luxembourg) II S.A.’s €310 million senior secured floating rate notes due 2021 and pay premium and accrued interest thereon, and pay fees, expenses and commissions in relation to the offering of the Notes.