Shearman & Sterling and Latham & Watkins have advised Thomas Cook and the underwriting banks in the global travel specialists’ €750m high yield bond offering, guaranteed by various Thomas Cook subsidiaries. The offering comprised of 6.25% senior notes due 2022, and the proceeds will be used to refinance existing debt.
Shearman advised the lead underwriter Merrill Lynch International and co-managers DNB Markets and Lloyds Bank, alongside Société Générale, Barclays, BNP Paribas, Citigroup, Credit Industriel et Commercial, Credit Suisse, KBC, Morgan Stanley, RBS and UniCredit. The banks were also advised in Europe by Allen & Overy, Cederquist and Wolf Theiss Rechtsanwälte.
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