Paris – Mayer Brown advised ICG, the global alternative asset manager, as arranger and lead subscriber, on the €2.0 billion senior secured bond financing for Funecap, a leading provider of funeral infrastructure and services, with an extensive network of crematoria, pet crematoria and funeral homes across Europe and North America.
The proceeds from the bonds issued at closing were used, in particular, to refinance outstanding bonds.
The transaction includes an innovative arrangement, featuring a first-of-its-kind special purpose vehicle raised by ICG exclusively for this financing, confirming ICG’s ability to design bespoke solutions that support businesses’ long-term growth and simultaneously deliver differentiated opportunities for client value creation.
ICG has contributed to the Funecap group’s development since 2015.
This refinancing is the largest French direct lending transaction of 2025 to date.
The Mayer Brown team was led by Banking & Finance partner Alain Levy and counsel David Puzenat and included associates Valentine Andaloro and Mathieu Lebourgeois.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
Lawyers and firms: get featured on Legal Desire
Share your deals, lateral moves, firm news and insights with 1M+ monthly readers: founders, law firm partners, general counsel and practising lawyers across the US, UK, EU and GCC.
Get featuredSubmit a press releaseThe advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
