Azelis will use the net proceeds from the bond issuance and drawings under the new term loan to repay certain indebtedness, including outstanding amounts under the company’s existing credit facilities. The refinancing will also be used for general corporate purposes, including bolt on acquisitions in line with Azelis’ existing disciplined strategy.

A&O Shearman partner Marc Plepelits said: “Following Azelis’ successful debut bond issuance in March 2023, our cross-border team was delighted to be working with Azelis again on its latest refinancing, delivering innovative financing solutions for our clients. The European leveraged finance market had a very strong first half of the year, and this transaction demonstrates continued confidence in the market to provide a supportive backdrop for dealmaking going forward.”

The A&O Shearman deal team advising on the bond issuance included partner Marc Plepelits, senior associates Evangelia Andronikou and Baxter Schooley, and associates Connor Anear, Ariel Aiash and Morgan Jordan. The A&O Shearman team advising on the credit facilities included partner Darren Hanwell, senior associate Kiddist Forsythe, associate Avani Maha and trainee Sama Aunallah. A team in Belgium, including partner Filip Tanghe, senior counsel Sophie Rutten, senior associate Niels De Waele and associates Helene Bauwens and Kristof Geukens, also advised on the transaction.