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Benjamin Bierwirth is an associate in the Firm's Capital Markets group in London and concentrates on securities transactions and corporate finance, with a particular emphasis on high-yield debt offerings.
He has represented underwriters and issuers in a range of international securities transactions, including Rule 144A and Regulation S high-yield debt offerings. His practice also includes the representation of companies in connection with general corporate and securities matters.
Represented the Gabonese Republic in connection to its issuance of €200 million principal amount of its 6.95% Notes due 2025 as a tap issuance to be fungible with its outstanding €500 million principal amount of 6.95% Notes due 2025. The Notes are listed on the Irish Stock Exchange. Lazard were the financial advisors to the Gabonese Republic.
Advised Play Communications S.A., as Issuer, and its shareholders in connection with Play Communications S.A.’s initial public offering on the Warsaw Stock Exchange. The IPO valued the company at €4 billion (PLN 16 billion). Play shares were listed on July 27, 2017. Upon issuance, it was the largest ever non-privatisation IPO of a Polish company, the largest IPO in the telecommunications sector in Europe since June 2015, and one of the five largest ever Polish IPOs.
Represented Play Topco S.A. as Issuer on the offering of €500 million 5.375% / 6.125% Senior PIK Toggle Notes due 2022. The deal was tightest pricing euro-denominated PIK toggle notes issuance in the context of a single B Offering since the credit crisis. The Play group had early adopted IFRS 15 and 16 and this was the first deal of its kind for a company that had done this.
Represented CEE Equity in connection with its first/second lien financing for its acquisition of Invitel, a Hungarian telecom company, as well as Invitel’s unwinding of its existing debt and capital structure. Rothschild were the financial advisors in connection with the transaction.
Representation of Crédit Agricole, Natixis and Société Générale, as Joint Global Coordinators, and other banks, as Joint Bookrunners, on Groupe Fnac S.A.’s offering of €650 million senior notes due 2023. The notes, issued on September 21, 2016 and priced at 3.25%, were offered and sold in accordance with Rule 144A and Regulation S under the US Securities Act of 1933, as amended, and were admitted for listing on the Official List of the Irish Stock Exchange and for trading on its Global Exchange Market.
Representation of Cognor SA and its affiliates in connection with the 2015 modified dutch auction tender offer for senior secured notes due 2020 issued by Cognor International Finance plc and the 2016 modified dutch auction tender offer for outstanding mandatory exchangeable guaranteed notes due 2021 of Cognor International Finance plc. Stifel Nicolaus Europe Limited acted as Dealer Manager.
Advised the initial purchaser on the tap issue of £77.3 million senior secured notes due 2020, issued by Lake Bridge International PLC, a finance subsidiary of Global University Systems. Global University Systems is a leading private higher education provider based in the UK.
Represented Ukraine in connection with its sovereign debt restructuring which was the winner of the American Lawyer "Global Finance Deal of the Year: Public Restructuring" in 2016.
Representation the lenders in connection with an equity bridge, debt bridge and revolving credit facility financing in connection with Teva's acquisition of Allergan's generics business for $40.5 billion.
Represented Cabot Credit Management Limited, as issuer, on the offering of EUR 310,000,000 Senior Secured Floating Rate Notes.