Dufry’s CHF 300 Million Senior Notes And €725 Million Senior Notes Offering

Homburger acted as counsel to Dufry, while Davis Polk advised Dufry One B.V. on the deal.

Dufry One B.V. launched and successfully completed the issuance of CHF 300 m 3.625% Senior Notes due 2026 (the CHF Senior Notes) and EUR 725 m 3.375% Senior Notes due 2028 (the EUR Senior Notes and, together with the CHF Notes, the Senior Notes).

The Senior Notes are guaranteed by Dufry and certain of its subsidiaries. It is expected that the Senior Notes will be admitted to the Official List of The International Stock Exchange.

Credit Suisse, Deutsche Bank, Goldman Sachs Bank Europe SE, Mediobanca and UBS Investment Bank acted as Joint Global Coordinators and Active Bookrunners for the CHF Senior Notes. BBVA, BofA Securities, BNP PARIBAS, HSBC, ING and UniCredit Bank acted as Joint Global Coordinators and Active Bookrunners for the EUR Senior Notes. Morgan Stanley, Raiffeisen Bank International, Raiffeisen Schweiz and Santander Corporate & Investment Banking acted as Joint Bookrunners.

Dufry is a global travel retailer with operations in 63 countries. Geographic diversification is a key element of the company’s strategy.

The Homburger team comprised Frank Gerhard (Picture), Jürg Frick, Dieter Grünblatt, David Borer and Olivier Baum.

Davis Polk advised Dufry One B.V. with partner John B. Meade and associates Paula Querol, Clare Conroy, Stephen A. Byeff and David Giron.

Involved fees earner: Stephen Byeff – Davis Polk & Wardwell; Clare Conroy – Davis Polk & Wardwell; David Giron – Davis Polk & Wardwell; John Meade – Davis Polk & Wardwell; Paula Querol – Davis Polk & Wardwell; Olivier Baum – Homburger; David Borer – Homburger; Jürg Frick – Homburger; Frank Gerhard – Homburger; Dieter Grünblatt – Homburger;

Law Firms: Davis Polk & Wardwell; Homburger;

Clients: Dufry AG;

Author: Federica Tiefenthaler