Gilles Teerlinck

Partner, London

Biography

Overview

Gilles Teerlinck is a capital markets partner in the London office of White & Case. Gilles represents issuers, sponsors and underwriters in international securities transactions, with a particular focus on offerings of high yield debt securities. Gilles has also worked on initial public offerings, private placements, restructurings, liability management transactions, corporate governance and other corporate matters.

Gilles is ranked as a "leading individual" in Legal 500 UK for high yield. Clients describe Gilles as offering "very commercial advice – he has a real grasp of the background and goes the extra mile in producing practical solutions, which is enhanced by his excellent knowledge of the market" and Gilles being "very commercial in addition to having strong technical knowledge. He combines deal experience with strong technical skills and good commercial acumen, which is helpful in the context of negotiations."

Bars and Courts
Solicitor, England and Wales
Brussels Bar
New York State Bar
Paris Bar
Education
Masters in Finance
London Business School
Degree in Corporate Finance
Catholic University of Leuven
LLM
University of California, Berkeley School of Law
MA in Law
Ghent University
Erasmus Exchange
University of Paris I Panthéon-Sorbonne
Languages
Dutch
French
English

Experience

Advised J.P. Morgan, Goldman Sachs and UniCredit, as initial purchasers, in connection with the Rule 144A/Regulation S offering of €650 million senior secured floating rate notes due 2028 by Cedacri Mergeco S.p.A. Cedacri is an industry-leading technology company providing core banking software, digital infrastructure, solutions and other IT services predominantly to the Italian market.

Advised J.P. Morgan and Standard Chartered Bank, as initial purchasers, in connection with the Rule 144A/Regulation S offering of $350 million 5.000% senior secured notes due 2028 by Acuris Finance US, Inc and Acuris Finance S.à r.l. (ION Analytics). ION Analytics is comprised of two prominent names in capital markets data, content and intelligence: Dealogic and Acuris, providing proprietary analytics and insights, through integrated data and workflow software for financial markets participants.

Advised Credit Suisse and Standard Chartered Bank, as initial purchasers, in connection with the Rule 144A/Regulation S offering of $450 million 5.750% senior secured notes due 2028 by ION Trading Technologies S.à r.l. (ION Markets). ION Markets provides software, data and analytics for the trading operations of financial market participants.

Advised Credit Suisse and Standard Chartered Bank, as initial purchasers, in connection with the Rule 144A/Regulation S offering of $350 million 4.625% senior secured notes due 2028 by Helios Software Holdings, Inc. and ION Corporate Solutions Finance S.à r.l. (ION Corporates). ION Corporates is an industry-leading global technology company that provides mission-critical software, data and analytics for the treasury management and commodities operations of businesses.

Represented Energean Israel Finance Ltd., a finance subsidiary of Energean PLC, a London-based leading independent oil and gas company, on its US$2.5 billion offering of Rule 144A/Reg S high yield senior secured notes. The offering is the largest ever non-US energy high yield bond offering, providing Energean with the financing needed to complete the development of its flagship Israeli Karish and Tanin offshore gas fields.

Represented Crédit Agricole CIB, MUFG and Santander, as joint global coordinators and joint bookrunners, Citigroup, J.P. Morgan and Helaba, as joint bookrunners, and Bankinter and Raiffeisen Bank International, as co-managers, on the inaugural green high yield bond issuance of €400 million 2.375% senior notes due 2029 by Faurecia

Represented Columbus Finance B.V., a finance subsidiary of the Scenic Group, on its offering of Senior Secured Notes due 2024 by way of a private placement. The Scenic Group is a leader in the field of luxury cruises and tours with more than ten offices worldwide and owning 23 ships.

Represented the majority of the holders of the Revolving Credit Facility (RCF), including financial institutions and investment funds, on Europcar Mobility Group's financial restructuring and subsequent accelerated financial safeguard.

Represented Vallourec's ad hoc group of bondholders and lenders under the RCF, led by Apollo, SVP, Bybrook and M&G, on the negotiation of an Agreement in Principle reached as part of the financial restructuring of Vallourec, world leader in premium tubular solutions for the energy markets and for demanding industrial applications.

Represented the investors on a private placement by Faurecia of €190 million 2.375% Senior Notes due 2027.

Advised Swissport Group, a multinational cargo/airport ground services provider, on its restructuring and recapitalisation.

Represented Sofima Holding S.p.A., as issuer, and IMA Bidco S.p.A., as guarantor, on the offering of €450 million Senior Secured Floating Rate Notes due 2028 and €830 million 3.75% Senior Secured Fixed Rate Notes due 2028 as part of the financing for the acquisition of shares of, and refinancing of outstanding indebtedness of, I.M.A. Industria Macchine Automatiche S.p.A. and its subsidiaries by IMA Bidco S.p.A., a subsidiary of the issuer.

Advised the bondholders on the financial restructuring of the Solocal Group, the leading European provider of digital solutions for SME companies.

Represented the super senior revolving credit facility lenders on the debt and equity recapitalisation through a UK scheme of arrangement of Selecta Group, the European market leader in self-service beverage and snack solutions.

Represented J.P. Morgan Securities plc as sole physical bookrunner and joint global coordinator, Credit Suisse Securities (Europe) Limited as joint bookrunner and joint global coordinator, and BNP Paribas, Crédit Agricole Corporate and Investment Bank, Natixis and Société Générale as joint bookrunners, on the offering of €200 million 6.50% senior secured notes due 2024 by Louvre Bidco SAS, a subsidiary of funds advised by BC Partners.

Represented doValue S.p.A. on its offering of €265 million 5.00% Senior Secured Notes in connection with the prepayment of the bridge facility, which was entered into in connection with doValue's acquisition of 80 percent of the share capital of the Greek loan servicing company Eurobank FPS Loans and Credits Claim Management Company S.A.

Represented BNP Paribas, Crédit Agricole CIB, Natixis and Société Générale, as joint global coordinators and joint bookrunners on the issuance of senior notes by Faurecia, with an aggregate principal mount of €1 billion. The offering was split into two tranches: €300 million 2.625% senior notes due 2025 (to be consolidated and form a single series with Faurecia's existing €700 million 2.625% senior notes due 2025), and €700 million 3.750% notes due 2028.

Represented Rubis Terminal as Issuer on its offering of €410 million 5.625% Notes due 2025. The notes were offered and sold in accordance with Rule 144A and Regulation S under the US Securities Act of 1933. The proceeds of the notes were used to repay a €410 million bridge loan that was drawn in connection with the acquisition of a 45% stake in Rubis Terminal by I Squared Capital Advisors (US) LLC and the concurrent refinancing of the group's existing indebtedness.

Represented the ad hoc group of senior secured noteholders in the chapter 11 cases of Global Cloud Xchange (GCX), which owns and operates a global subsea cable network spanning the globe, with 46 landing stations in 27 countries. The prepackaged chapter 11 plan of reorganization restructured approximately 350 million in funded debt and resulted in the senior secured noteholders becoming the new owners of GCX going forward (following the receipt of necessary regulatory clearances).

Represented the Joint Global Coordinators and Joint Bookrunners in connection with the offering by OCI N.V. of US$600 million 5.250% Senior Secured Notes due 2024 and €700 million 3.125% Senior Secured Notes due 2024 (2019).

Represented the notes purchasers in connection with the private placement by MCS Groupe of Senior Secured Floating Rate Notes due 2024 (2019)

Represented the notes purchasers in connection with the private placement of 6.375% senior secured notes due 2025 by Pinnacle Bidco plc, an affiliate of the Pure Gym group (2019)

Represented the initial purchasers in connection with the offering of €500 million 3.125% Senior Notes due 2026 by Faurecia (2019)

Represented Partners Group AG on the financing aspects of their acquisition of German energy services provider Techem from Macquarie, including the offering by Blitz F18-674 GmbH of €465 million 6% Senior Notes due 2026 (2018)*

Represented an ad hoc group of bondholders of the US$300 million senior secured notes issued by Reliance Communication Limited in connection with the financial restructuring of Reliance Communication Limited (2018)*

Represented Credit Suisse Securities Europe Ltd. and J.P. Morgan Securities plc in connection with the offering by Picard Groupe S.A.S. of €60 million floating rate senior secured notes due 2023 (2018)*

Represented Partners Group AG and PSP Investments on the financing aspects of Cerba Healthcare's acquisition of French clinical pathology lab operator Bio7, including the offering of €60 million 5.375% Senior Notes due 2025 (2018)*

Represented Credit Suisse Securities Europe Ltd. and J.P. Morgan Securities plc in connection with the offering by Picard Groupe S.A.S. of €1.19 billion floating rate senior secured notes due 2023 and the offering by Picard Bondco S.A. of €310 million 5.5% senior notes due 2024 (2017)*

Represented EQT in connection with the initial public offering and the NASDAQ Helsinki listing of Terveystalo plc (2017)*

Represented Maxeda DIY Holding B.V. in connection with its offering of €475 million 61/8% Senior Secured Notes due 2022 (2017). This transaction won the "Europe High Yield Bond" award at the IFR Awards 2017*

Represented Banijay Group S.A.S. in connection with its issuance of €365 million of senior secured notes due 2022 (2017)*

Represented Bain Capital Private Equity on its acquisition of leading Italian tyre wholesaler Fintyre (2017)*

Represented an ad hoc group of holders of convertible bonds issued by Paladin Energy Limited (a listed Australian mining company) in connection with a proposed exchange offer and debt-to-equity swap (2017)*

Represented an ad hoc committee of holders of the US$300 million notes due 2016 and US$700 million notes due 2017 issued by subsidiaries of PT Bumi Resources Tbk. (a listed Indonesian coal mining company) in connection with a restructuring through Indonesian suspension of payments proceedings (2017)*

Represented Partners Group AG and PSP Investments on the financing aspects of their acquisition of French clinical pathology lab operator Cerba Healthcare from PAI Partners, including the offering by NewCo Sab MldCo S.A.S. of €180 million 5.375% Senior Notes due 2025 (2017)*

Represented Algeco/Scotsman Holding S.à r.l. and certain of its subsidiaries in connection with the exchange offer and consent solicitation of the PIK loan of Algeco Scotsman PIK S.A., and the subsequent restructuring thereof through an English scheme of arrangement (2017)*

Represented Algeco/Scotsman Holding S.à r.l. in connection with several private placements of senior secured notes of its subsidiary Algeco Scotsman Global Finance plc (2017)*

Represented the purchasers on the issuance by N&W Global Vending S.p.A. of €100 million of second lien notes due 2023, to finance Lone Star Funds' acquisition of N&W Global Vending (2016)*

Represented Astorg Partners and Kerneos Corporate S.A.S. in connection with the aborted refinancing of Kerneos and the sale of Kerneos to Imerys (2016)*

Represented Oaktree Capital Management on the sale of SGD Group S.A.S. to China Jianyln Investment (JIC) (2016)*

Represented Citigroup and the other initial purchasers in connection with the offering by Faurecia S.A. of €700 million 3.625% senior notes due 2023 (2016)*

Represented I Squared Capital in connection with its acquisition of Viridian (2016)*

Represented Labeyrie Fine Foods SAS on the issuance of €80 million 5.625% senior secured notes due 2021 (2016)*

Represented Advent International, Bain Capital and Clessidra in connection with the offering by Mercury Bondco plc of €1.1 billion of high yield PIK notes to finance the acquisition of Istituto Centrale delle Banche Popoiari Italiane S.p.A. (ICBPI), an Italian payments banking group (2015). This transaction was named "High Yield Deal of the Year" at the IFLR Europe Awards 2015*

Represented Bain Capital in relation to the redemption of the Floating Rate Senior Notes due 2020 by Ship Global 2 & Cy S.C.A. in connection with the IPO of Worldpay Group plc (2015)*

Represented Bain Capital in relation to the initial public offering of Bravida and the related senior secured notes and floating rate senior notes redemption (2015)*

Represented Altor Equity Partners and Bain Capital LLC on the sale of Norwegian fish-feed supplier EWOS to Cargill Inc (2015)*

Represented Astorg Partners SAS on the issuance of €25 million senior secured floating rate notes due 2021 by Kerneos Tech Group SAS (2015)*

Represented Cinven in the offering by Ephios Bondco PLC of €500 million 6.25% senior secured notes due 2022 and €300 million floating rate senior secured notes due 2022 in connection with the proposed acquisition of Labco S.A. by Ephios Bondco PLC (2015)*

Represented BNP Paribas and the other initial purchasers in connection with the offering by Faurecia S.A. of €200 million 3.125% senior notes due 2022 (2015)*

Represented BNP Paribas and the other initial purchasers in connection with the offering by Faurecia S.A. of €500 million 3.125% senior notes due 2011 (2015)*

Represented BNP Paribas and the other initial purchasers in connection with the offering by Faurecia S.A. of €500 million 3.125% senior notes due 2022 (2015)

Represented Credit Suisse Securities Europe Ltd. and J.P. Morgan Securities plc, in the offering by Picard Groupe S.A.S. of €342 million floating rate senior secured notes due 2019 and the offering by Picard Bondco S.A. of €428 million 7.750% senior notes due 2020 (2015)*

Represented Albéa Beauty Holdings S.A. in connection with its offering of €45 million 8.75% Senior Secured Notes due 2019 (2015)*

Represented Bain Capital on the issuance of SEK 920,160,000 Floating Rate Senior Notes due 2020 by Bravissima Holding AB (2014)*

Represented Albéa S.A. in its $175 million initial public offering (aborted) (2014)*

Represented Bain Capital in relation to the issuance of senior PIK notes due 2020 by Atalaya LuxCo PIKCo (Atento) (2014) and the subsequent partial redemption thereof in connection with the initial public offering of Atento S.A. (2014)*

Represented Oaktree Capital Management and SGD Group S.A.S. in the offering by SGD Group S.A.S. of €350 million 5.625% senior secured notes due 2019 (2014)*

Represented Autodistribution, a portfolio company of TowerBrook Capital Partners L.P., in connection with the offering by Autodis S.A. of €240 million senior secured notes due 2019 (2014)*

Represented Bain Capital, Altor, Albain Midco Norway AS and Albain Bidco Norway AS in the offering by Albain Midco Norway AS of NOK 1,040 million Floating Rate Senior Notes due 2021 and in the offering by Albain Bidco Norway AS of €225 million 6.750% senior secured notes due 2020 and NOK 1,810 million senior secured floating rate notes due 2020, the proceeds of which were used to finance the acquisition of the EWOS Group by Albain Bidco Norway (2013)*

Represented Credit Suisse Securities Europe Ltd., in the offering by Picard Groupe S.A.S. of €480 million floating rate senior secured notes due 2019 (2013)*

Represented Bain Capital and Magnolia (BC) S.A. in the offering by Magnolia (BC) S.A. of €325 million 9% senior secured notes due 2020 in connection with the proposed acquisition of Maisons du Monde by Magnolia (BC) S.A.S. (2013)*

Represented Elis, a Eurazeo portfolio company, in connection with its offering of €450 million in aggregate principal amount of senior secured notes due 2018 and the concurrent private placement of €380 million in aggregate principal amount of senior subordinated notes due 2018 and a private placement of €173 million in aggregate principal amount of PIK notes due 2018 (2013)*

Represented CVC Capital Partners, in the offering of €350 million senior secured notes due 2020 by Trionista Holdco GmbH and the offering of €525 million senior subordinated notes due 2021 issued by Trionista Topco GmbH in connection with the acquisition of ista International GmbH (2013)*

Represented Integrated Dental Holdings Finance plc, a Carlyle portfolio company, in connection with its offering of £200 million in aggregate principal amount of senior secured fixed rate notes due 2018, £125 million in aggregate principal amount of senior secured floating rate notes due 2018 and £75 million in aggregate principal amount of second lien notes due 2019 (2013)*

Represented Avis Budget Finance plc, in its offering of €250 million senior notes due 2021 issued in connection with the acquisition of Zipcar, Inc (2013)*

Represented Labco S.A., in connection with its offering of €100 million 8.5% senior secured notes due 2018 (2013)*

Represented Edcon Proprietary Limited, in connection with its offering of €300 million 9.5% senior secured notes due 2018 and the concurrent tender offer for ca. €750 million of its senior secured notes due 2014 (2013)*

* Matters worked on prior to joining White & Case

Awards and Recognition

Leading Individual
Legal 500 UK 2021:High Yield

'Gilles Teerlinck offers very commercial advice – he has a real grasp of the background and goes the extra mile in producing practical solutions, which is enhanced by his excellent knowledge of the market.'
'Gilles Teerlinck is an excellent attorney who advises on all aspects of high yield. He is very commercial, provides client-focused advice and is always a pleasure to work with.'
'Gilles Teerlinck is very commercial in addition to having strong technical knowledge. He combines deal experience with strong technical skills and good commercial acumen, which is helpful in the context of negotiations.'
Legal 500 UK 2021: High Yield

The Asia Legal Awards 2018, "Finance Deal of the Year: Insolvency and Restructuring," for PT Bumi Resources' $4.5B global debt restructuring

"Europe High Yield Bond" award at the IFR Awards 2017 for Maxeda DIY Holding B.V.'s offering of €475 million 61/8% Senior Secured Notes

International Financial Law Review European Awards 2016, "High Yield Deal of the Year," for ICBPl's €1.1 billion of high yield PIK notes

International Financial Law Review European Awards 2016, "Equity Deal of the Year," for WorldPay's IPO

International Financing Review, "Europe High Yield Bond of the Year," IFR Awards 2015, for ICBPI's €1.1 billion of high yield PIK notes