International law firm Milbank, Tweed, Hadley & McCloy LLP represented the joint bookrunners, Goldman Sachs International, UBS Investment Bank, Natixis and Société Générale on the €320 million offering of senior secured notes by HOLDIKKS S.A.S and the lenders under a €40 million super-senior secured revolving credit facility of IKKS Group.
IKKS Group is a leading international fashion retailer offering a wide range of premium apparel and accessories under the IKKS, One Step and I.Code brands. IKKS serves customers in over 400 retail stores, 200 corners in department stores, 2700 outlets and two e-shops.
The Milbank team was led by Global Securities partner Peter Schwartz and Global Leveraged Finance partner Suhrud Mehta. The Milbank team included Global Leveraged Finance special counsel Laetitia Costa, of counsel Patrick Holmes, Tax partner Andrew Walker and special counsel Eschi Rahimi-Laridjani along with associates Noel Hughes, Corey Blake, Christopher Akinrele, Albert Aharonian, Benjamin Bierwirth and Philip Benger.
This transaction adds to Milbank’s impressive track record of advising on France-based financings in the last 12 months, including the representations of:
- The joint bookrunners in the €310 million offering of senior secured floating rate notes and the lenders under the €65 million senior secured revolving credit facility of Novacap International S.A.S. This was the first high yield notes to feature an issuer held through a creditor-friendly French Fonds Professionnels de Capital Investissement (FPCI), which is not subject to French “safeguard” (sauvegarde) proceedings
- The purchasers in the €220 million offering of senior floating rate notes by Medi-Partenairesto S.A.S. to finance its acquisition of Medipole Sud Sante
- SNF Floerger Group in its $250 million offering of senior notes and its €100 million offering of senior notes
- The agent and lender, Credit Suisse, in the refinancing of the €250 million senior secured loan and the €30 million revolving credit facility by Photonis Technologies Group, owned by AXA Private Equity
- The investor, Goldman Sachs Mezzanine Partners (GSMP), in the €380 million offering of senior subordinated notes and in the €173 million offering of senior PIK notes by Elis Group, owned by Eurazeo
- The lenders to Foncia Group, owned by Bridgepoint and Eurazeo
- The arrangers financing potential bids on other leading buyouts, including Diana Group and Ceva Sante Animale
