Freshfields Bruckhaus Deringer LLP (Freshfields) advised Transport Stockage Hydrocarbures (TSH) and Géosel Manosque (Géosel), respectively joint subsidiary and sub-subsidiary of Ardian and EDF Invest, on the refinancing of existing indebtedness.
The Géosel refinancing was conducted via the closing of a new credit facility whilst a new long-term facility agreement was secured with institutional investors for the refinancing of TSH for an aggregate total amount of €300 million. These financings, which meet ESG criteria defined with the new group of lenders, have set new maturities and improved the financial conditions for both Géosel and TSH.
TSH (wholly owned by Ardian and EDF Invest) now owns 76.7% of Géosel, alongside Petroineos Manufacturing France (19.9%) and Total (3.4%).
Ardian and EDF Invest were advised by Rothschild.
The Freshfields team was composed of Fabrice Grillo, partner, as well as Gabriel Glover-Bondeau, counsel, and Benjamin Cartier, associate, for the financing aspects; Florent Mazeron, partner, Sami Jebbour, counsel, Paul Bévierre and Joaquim Traoré, associates, for the corporate aspects; and Pascal Cuche, partner, Tanguy Bardet, senior associate, and Ori Enrique Ulloa Castro, associate, for the public law and regulatory aspects.
