White & Case, Freshfields and Latham lead on landmark €10bn cross-border high-yield bond deal
Ex-A&O partner Kensell leads for Latham on Wind Tre refinancing following 2016 move to US firm
November 06, 2017 at 08:17 AM
2 minute read
White & Case, Latham & Watkins and Freshfields Bruckhaus Deringer have taken roles on one of Europe's largest ever high-yield bond deals, with Italian telecoms company Wind Tre raising more than €10bn via a cross-border financing arrangement involving 20 international banks.
Wind Tre has raised €7.3bn in high-yield senior secured notes, alongside a €3.4bn senior credit facility consisting of a €3bn term loan and a €400m revolving credit facility.
The deal, which closed on Friday (3 November), is reportedly one of the largest ever high-yield deals in Europe and also one of the largest ever cross-border high-yield deals.
Wind Tre was formed by a 2016 joint venture between Amsterdam-headquartered telecoms company VEON, formerly VimpelCom, and Hong Kong holding company CK Hutchinson.
White & Case took the key role for the company with a team including lawyers from the US firm's London, New York and Milan offices.
Key London lawyers on the deal include finance partners Chris Utting and Ben Wilkinson, high yield partner Rob Matthews, capital markets partner Ingrid York and capital markets associate James Greene, who will become a partner at the firm on 1 January next year.
The London team is working with Milan corporate partners Michael Immordino and Iacopo Canino and New York tax partner Raymond Simon.
Wind Tre's legal team is being led by general counsel Mark Shalaby, while Freshfields is advising the company on Italian tax issues with Italian tax head Renato Paternollo playing the lead role.
Latham, meanwhile, is advising more than 20 banks participating as bookrunners. Banking partner Stephen Kensell, who joined Latham from Allen & Overy (A&O) last year, is leading the US firm's team alongside London capital markets partner Brett Cassidy and Milan banking partner Marcello Bragliani.
The 2016 creation of Wind Tre came after Italy's Wind Telecomunicazioni was taken over by VimpelCom in 2011.
While at A&O, Kensell advised the banks on London, Italian and Luxembourg aspects of a €6.6bn high-yield refinancing deal for Wind in 2010.
That deal saw White & Case and Cleary Gottlieb Steen & Hamilton advise Wind, while Latham also took a role for the underwriters.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Kirkland Steers Paris-based Antin in ‘Year’s Biggest’ Infrastructure Fund Closing, at €10.2B
3 minute read
Venezuela Faces Creditor Class Action Suit After Missing $1.5B Bond Payments
2 minute read
Top German Banking Partners Seiler & Rath Rejoin Latham After White & Case Stint
3 minute read
Mastercard Settles First-Ever UK Mass Consumer Action Over Unlawful Fees
3 minute readTrending Stories
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
