Vía Célere’s €300 Million Notes Offering

Vinson & Elkins LLP and Garrigues advised Vía Célere on the deal, while Baker McKenzie acted as legal counsel to the bookrunners.

Värde Partners portfolio company, Vía Célere, announced its offering of €300 million aggregate principal amount of 5.25% Senior Secured Notes due 2026.

The Notes were issued on March 18, 2021 and diversify the Issuer’s funding sources and supports its growth strategy in the Iberian market. The Issuer intends to use the proceeds from the offering, amongst other things, to fund cash on balance sheet and re-finance existing indebtedness, each in connection with the construction of energy efficient residential buildings in Vía Célere’s portfolio across Iberia.

JP Morgan, Deutsche Bank, Credit Suisse, Banco Santander, Caixabank, BBVA and Sabadell acted as Bookrunners for the offering.

Vía Célere is the largest homebuilder in Spain by units delivered in 2020, with a deep residential land bank in key markets across Iberia.

The V&E team was led by partners Federico Fruhbeck (Picture) and Noel Hughes with assistance from partner Emilie Stewart, counsel Cason Moore, senior associate Matthew Lowe and associates Anu Akinbamidele and Chris Hesford. Partner Wendy Salinas, counsel Andrew Callaghan and associates Simrita Chadha and Liz Snyder provided tax advice.

Garrigues team included Commercial partner Gonzalo García-Fuertes, B&F partner Daniel González Pila, and Tax partners Eduardo Abad and Albert Collado. The team included principal associate Fernando Santos, senior associates Clemente Mateo and Aurora Sánchez, and associates Aitor Fernández, Leire Peña and Julia Santos.

The Baker McKenzie’s team was led by London-based partners Haden Henderson and Nick O’Grady, and Madrid-based partners Rossanna D’Onza and Enrique Carretero, supported by London-based associates Benjamin Bierwirth, Nick Cussack, Andrew J Brown, Lola Oni and Nicholas Parker, Madrid-based associates Carlos Martin, Marina Martinez, Modesto Puerta, Ines Colas and Alberto Aires, and London-based trainee Abigail Saffron.

Involved fees earner: Alberto Aires – Baker McKenzie; Benjamin Bierwirth – Baker McKenzie; Andrew J Brown – Baker McKenzie; Enrique Carretero – Baker McKenzie; Inés Colás Ybáñez – Baker McKenzie; Nick Cussack – Baker McKenzie; Rossanna D’Onza – Baker McKenzie; Haden Henderson – Baker McKenzie; Carlos Martin – Baker McKenzie; Marina Martínez Rivera – Baker McKenzie; Nick O’Grady – Baker McKenzie; Lola Oni – Baker McKenzie; Modesto Puerta – Baker McKenzie; Eduardo Abad Valdenebro – Garrigues; Albert Collado Armengol – Garrigues; Aitor Fernández Neira – Garrigues; Gonzalo García-Fuertes Iglesias – Garrigues; Daniel González Pila – Garrigues; Clemente Mateo López – Garrigues; Leire Peña Uribelarrea – Garrigues; Aurora Sánchez Palacio – Garrigues; Fernando Santos Cubero – Garrigues; Julia Santos Penido – Garrigues; Anu Akinbamidele – Vinson & Elkins LLP; Andrew Callaghan – Vinson & Elkins LLP; Simrita Chadha – Vinson & Elkins LLP; Federico Fruhbeck – Vinson & Elkins LLP; Christopher Hesford – Vinson & Elkins LLP; Noel Hughes – Vinson & Elkins LLP; Matthew Lowe – Vinson & Elkins LLP; Cason Moore – Vinson & Elkins LLP; Liz Snyder – Vinson & Elkins LLP; Emilie Stewart – Vinson & Elkins LLP; Wendy Trahan Salinas – Vinson & Elkins LLP;

Law Firms: Baker McKenzie; Garrigues; Vinson & Elkins LLP;

Clients: Banco Santander Sa; BBVA Securities Inc.; CaixaBank; Credit Suisse; Deutsche Bank; JP Morgan; Sabadell Capital, S.A. de C.V.; Vía Célere;

Author: Federica Tiefenthaler