Allen & Overy’s leveraged finance team has advised the banks in connection with a EUR2.35 billion loan and debut high yield bond refinancing by Foncia, a leading provider of residential real estate services in Europe.
The financing consisted of a EUR1.3 billion term loan facility, a EUR437.5 million revolving credit facility, EUR400 million of 3.375% Senior Secured Notes due 2028 and EUR250 million of 5.000% Senior Unsecured Notes due 2029.
Commenting on the transaction, lead high yield partner John Kicken said: “This deal included several ground-breaking features tested for the first time in the European high yield market. Being able to seamlessly execute such a landmark transaction across multiple jurisdictions is yet another testament to the strength of our integrated leveraged finance practice.”
Lead leveraged finance partner Sanjeev Dhuna added: “There are a limited number of firms that are able to field a global U.S. and European leveraged finance and high yield practice the way we can. This deal demonstrates the true value A&O can bring to these cutting-edge transactions.”
London partner James Graham also led on the leveraged finance offering. Senior associates Hannah Gates and Temi Esho, and associates Luke Newling, Julius Greiner, Odysseas Theofanis, Sampada Bannurmath and Jeff Xu supported on the transaction. The French team was led by partner Adrian Mellor and the Luxembourg team was led by partner Paul Péporté.
