Thomas Cook’s €400 Million High Yield Bond


Shearman & Sterling advised Barclays, DNB Markets, UniCredit Bank, BNP Paribas, BofA Merrill Lynch, Lloyds Bank, NatWest Markets and Société Générale on Thomas Cook’s €400 million high yield bond offering.

The offering comprised €400 million of 3.875% senior notes due 2023. The proceeds of the offering will be used to refinance existing indebtedness of the Thomas Cook Group.

The Shearman & Sterling team was led by partners Apostolos Gkoutzinis (Picture) and Marwa Elborai; and associates Ana Grbec, WonJu Sul, Steven Holm and Fabio Pazzini (all London-Capital Markets). Partner Peter Hayes and associate Warren Stapley (both London-Finance) advised on English law aspects of the transaction; partner James Webber (London-Antitrust) and counsel Paolisa Nebbia (Rome-Antitrust) advised on antitrust and competition matters; partner Kristen Garry (Washington, DC-Tax) advised on U.S. tax aspects of the transaction, partner Simon Letherman and associate Lois Howarth (both London-Tax) advised on U.K. tax aspects of the transaction.

Involved fees earner: Apostolos Gkoutzinis – Shearman & Sterling; Marwa Elborai – Shearman & Sterling; Ana Grbec – Shearman & Sterling; WonJu Sul – Shearman & Sterling; Steven Holm – Shearman & Sterling; Fabio Pazzini – Shearman & Sterling; Peter Hayes – Shearman & Sterling; Warren Stapley – Shearman & Sterling; James Webber – Shearman & Sterling; Paolisa Nebbia – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Simon Letherman – Shearman & Sterling; Lois Howarth – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Barclays Bank; BNP Paribas; Bank of America Merrill Lynch; Lloyds Bank; Société Générale; UniCredit Bank AG; DNB Markets; NatWest Markets;

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