Leading international law firm Herbert Smith Freehills has advised WH Smith PLC (WHSmith) on the successful completion of a £200 million issue of US Private Placement (USPP) notes, marking the company’s debut in the USPP market.

WHSmith is a leading global travel retailer with over 1,200 stores across the globe, primarily in airports.

The USPP notes have varying maturities and were issued on investment-grade terms. The deal is unique as it includes longer periods of delayed closings, which is rare in the USPP market.