Latham Advises Afflelou and Afflelou PIKCO on Private Placements Totaling €120 Million

Latham & Watkins has advised Afflelou, a leading optical product and hearing aid franchisor in Europe, on the issuance of €50 million additional 6.000% senior secured notes due 2029. The firm also advised Afflelou’s new direct holding company Afflelou PIKCO Limited, on the private placement of €70 million senior secured floating rate notes PIK notes due 2030. The proceeds from the two private placements will be used to fund a distribution to the shareholders, as part of an overall agreement between shareholders to grow the Alain Afflelou family holding equity stake in the group from 29% to 38%.

The Latham team was led by Paris capital markets partners Thomas Margenet-Baudry and Roberto Reyes Gaskin, with associates Hamza El Mouahid, Tom Breheny, and Adrien Couvrecelle. Advice was also provided on banking matters by London partner Hayden Teo, with associates Virginie Terzic and Liam Feng; and on tax matters by London partner Serena Lee, with associate Allegra Benitah.