A cross-border team from Allen & Overy has advised a number of banks in relation to the issuance of EUR315 million Senior Secured Floating Rate Notes due 2027 by PrestigeBidCo GmbH (the Issuer), the subsequent issuance by the Issuer of an additional EUR35 million of Senior Secured Floating Rate Notes due 2027 and the entry into a new EUR110 million revolving credit facility by the Issuer and its subsidiaries (the BestSecret Group). The Issuer used the net proceeds from the notes to repay and redeem its existing notes and for general corporate purposes.
The BestSecret Group is a leading members-only destination for online off-price fashion, with a focus on mid-market to luxury fashion in Europe. The BestSecret Group provides its customers with exclusive access to a portfolio of around 3,000 brands, while offering its brand partners a structural solution to sell their overstock through a discreet and controlled channel and protecting their brand equity.
In London, the A&O team was led by partnersĀ Brad WeylandĀ andĀ Nicholas Clark, senior associatesĀ Carolyn Slauson AliĀ andĀ Elena Dzhurova, and associates Qi Xie, Jeff Xu, Emenike Omeye,Ā Jack DrydenĀ andĀ Andreas Georgiades. The Frankfurt and Munich teams were led by partnerĀ Walter UebelhoerĀ with partnerĀ Heike WeberĀ providing specialist tax advice, counselĀ Ilja BaudischĀ and associatesĀ Joerg WeberĀ andĀ Sebastian Hanke, with associateĀ Manuel KoechelĀ providing specialist tax advice.
