Global law firm White & Case LLP has advised BNP Paribas, Crédit Agricole CIB, HSBC and Merrill Lynch International, as Global Coordinators and Joint Bookrunners, on Europcar Mobility Drive D.A.C's €450 million high yield bond issue, with an annual coupon of 4.0% due 2026.
The bond issue was completed on April 24, 2019.
Europcar Mobility D.A.C. is a special purpose vehicle of Europcar Mobility Group, a major player in mobility markets that is listed on Euronext Paris.
The bonds were issued and sold under Rule 144A and Regulation S under the US Securities Act of 1993, and are listed on the Luxembourg Stock Exchange. The proceeds of the issue, along with the proceeds of a drawing under Europcar Mobility's revolving credit facility, will be used to redeem Europcar Mobility Group's €600 million existing 2022 bonds.
The White & Case team that advised on the transaction was led by partners Colin Chang, Denise Diallo, Philippe Herbelin (all Paris) and Monica Holden (London), with support from associates Tatiana Uskova, Marie-Alix Charvin, Laure Elbaze, Alice Chavaillard (all Paris) and Claudia Hasbun (London).
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