Picard Groupe’s €1.19 billion floating rate senior secured notes Offering

Kirkland & Ellis International LLP advised Credit Suisse Securities Europe Ltd., J.P. Morgan Securities plc, BNP Paribas and HSBC in connection with the offering by leading French frozen food company 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.

Picard Groupe SAS retails frozen food products in France. It sells frozen unprocessed meat, fish and seafood, fruits and vegetables, and bakery products, as well as a range of ready-made starters, main courses, desserts, and ice creams. The company, led by Philippe Pauze, Christine Declercq, Joel Amelot et Patricia Guyot, was formerly known as Lion Polaris SAS and changed its name to Picard Groupe SAS in June 2011.

The transaction, which closed on December 14, 2017, was led by London capital markets partners Cedric Van den Borren (Picture), Gilles Teerlinck and James Simpson.


Involved fees earner: Cédric Van den Borren – Kirkland & Ellis; Gilles Teerlinck – Kirkland & Ellis; James Simpson – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: BNP Paribas; HSBC; Credit Suisse Securities Limited; JP Morgan Securities;