White & Case Advises Lenders on Europcar Mobility Group's French State-guaranteed €220 Million Term Loan
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Global law firm White & Case LLP has advised Bank of America Merrill Lynch International, Banque Européenne du Crédit Mutuel, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Crédit du Nord, Crédit Industriel et Commercial, Deutsche Bank Luxembourg S.A., Goldman Sachs Bank Europe SE, HSBC France, ING Bank N.V. (French branch), Natixis and Société Générale on the implementation of a €220 million Term Loan facility guaranteed by the French state for Europcar Mobility Group (Europcar).
The Firm also advised BNP Paribas, Crédit Agricole Corporate and Investment Bank, Natixis and Société Générale on the implementation of an additional tranche of the group's €20 million revolving credit facility, guaranteed by Eurazeo through a risk participation.
The €220 million Term Loan is part of a facility guaranteed by the French state (Prêt Garanti par l'Etat) and has been implemented in the context of the coronavirus crisis to secure Europcar's liquidity and meet anticipated fleet and corporate financing needs to swiftly restart operations.
The loan will be guaranteed up to 90 percent by the French state and have a maturity of one year, with a five-year extension option, decided by Europcar, to May 2026, subject to the usual compulsory reimbursement cases.
The White & Case team in Paris which advised on the transaction was led by partners Denise Diallo and Saam Golshani, and included partners Thomas Le Vert and Yann Utzschneider, with support from counsel Orion Berg and associates Alicia Bali, Laure Elbaze, Anne-Louise Lorenzo and Yasmine Sefraoui.
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