Global law firm White & Case LLP has advised Groupe Michelin, the leading tire company, on a three-tranche, €2.5 billion bond issue, with seven-year, 12-year and 20-year maturities respectively.
The bonds, which were offered via an international private placement to qualified investors, were issued by Compagnie Générale des Etablissements Michelin and will be admitted to trading on Euronext Paris. The proceeds from the issue, which was largely oversubscribed, will be used for general corporate purposes.
Citi acted as Global Coordinator and Joint Bookrunner on the seven- and 12-year tranches, and Crédit Agricole Corporate and Investment Banking acted as Global Coordinator and Joint Bookrunner on the 20-year tranche.
The White & Case team in Paris which advised on the transaction was led by partners Thomas Le Vert and Séverin Robillard and included partner Alexandre Ippolito, with support from associates Petya Georgieva, Isabelle Touré-Farah and Guillaume Keusch.
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