Samsonite’s €350 Million High Yield Bond Offering

Ropes & Gray has advised Samsonite on its first ever European high yield offering, involving the issuance of €350 million 3.5% Senior Notes due 2026, alongside the syndication and allocation of US$2.143bn of new senior credit facilities.

The structuring of the financing and the related refinancing of the credit facilities provides Samsonite with the flexibility to access the European term loan market in the future.

Samsonite International S.A. designs, manufactures, and distributes luggage. The Company’s products include suitcases, garment bags, casual bags, business cases, clothing, shoes, and accessories. The company, led by Ramesh Dungarmal Tainwala, Kyle Francis Gendreau and Andrew David Wells, in 2017 recorded $3.4 Billion Revenues.

A cross-border team from Ropes & Gray’s London and New York offices advised on the deal. The London team was led by finance partners Michael Kazakevich (Picture) and Benoit Lavigne, supported by counsel Haden Henderson, Alexandru Mocanu and associates Samantha Greer, Konrad Borowicz, Bettina Kloubert, Clara Melly and Charlotte Buijs. The New York bank finance team was led by partner Stefanie Birkmann, alongside counsel Patricia Teixeira and associates Alexandra De Padua and Kavita DeVaney. Tax advice was provided by partner David Saltzman and counsel Sara Clevering, both based in Boston.

Involved fees earner: Michael Kazakevich – Ropes & Gray; Benoit Lavigne – Ropes & Gray; Haden Henderson – Ropes & Gray; Alexandru Mocanu – Ropes & Gray; Samantha Greer – Ropes & Gray; Konrad Borowicz – Ropes & Gray; Clara Melly – Ropes & Gray; Charlotte Buijs – Ropes & Gray; Stefanie Birkmann – Ropes & Gray; Patricia Teixeira – Ropes & Gray; Kavita DeVaney – Ropes & Gray; Bettina Kloubert – Ropes & Gray; Alexandra de Padua – Ropes & Gray; David Saltzman – Ropes & Gray; Sara Clevering – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: Samsonite;