Thomas Margenet-Baudry is a partner in the firm’s Corporate Department and the Office Managing Partner of Latham & Watkins’ Paris office. His practice includes:

  • Capital markets
  • Mergers and acquisitions
  • Public company representation

Thomas advises clients on capital markets transactions, in particular high-yield debt and equity securities. He has represented issuers and underwriters on a broad range of French, international, and US capital raising transactions, including initial public offerings, high-yield financings, rights issues, and investment-grade debt offerings. He also has broad experience with French public M&A and tender offer regulation, and regularly advises clients on French and EU corporate governance and securities regulation matters.

Thomas is also a member of the New York bar.

Thomas’ recent experience includes advising:

  • Afflelou and Afflelou PIKCO on private placements totaling €120 million
  • iQera, the leading French debt collection company, on its financial restructuring
  • The banks in the on Kapla Holding’s liability management exercise and new issue of €650 million senior secured floating rate notes
  • Accorinvest on its €750 million inaugural high-yield bond offering and subsequent €650 million bond issue
  • The initial purchasers on the issuance by Tereos of €300 million senior notes due 2030
  • Novafives on the issurance of €425,000,000 floating senior secured notes due 2029
  • Afflelou on a €560 million high-yield offering and €287 million concurrent tender offer
  • The banks on Goldstory’s €850 million senior secured notes refinancing
  • The arrangers on the French veterinary pharmaceutical group Ceva Santé Animale’s term loan B refinancing of €2.3 billion
  • Term loan B lenders steering committee in relation to the signing of the lock-up agreement by the Casino group
  • Loxam, France’s market leader and the fourth-largest global player in equipment and tool leasing, in its €400 million refinancing
  • Burger King France in its €45 million acquisition financing
  • The initial purchasers in Tereos’ €350 million high-yield senior notes offering
  • The banks in connection with Faurecia’s €700 million of sustainability-linked senior notes due 2026
  • Loxam in connection with a €130 Million loan from the European Investment Bank (EIB)
  • The underwriters of Faurecia’s €705 million rights issue
  • Farallon Capital as subscriber of GreenYellow’s issue of €109 million convertible bonds with warrants attached; GreenYellow is a leading energy transition company and subsidiary of Casino Group
  • Burger King in its sale of Quick
  • Elior Group on its €550 million senior notes issuance
  • Derichebourg in its inaugural €300 million green notes offering
  • The underwriters (Credit Suisse, BNP Paribas, Crédit Agricole CIB, Natixis, Société Générale, Arkea Banque Entreprises et Institutionnels, and CM-CIC) in connection with the €480 million green high-yield bond issued by the Paprec Group
  • The underwriters on the Initial Public Offering of American Depositary Shares by Cellectis
  • Deutsche Bank, BNP Paribas, Credit Suisse, Crédit Agricole CIB, Natixis, and Société Générale in connection with the €660 million high-yield deal to refinance French industrial equipment rental business Loxam’s existing debt
  • Fives on the refinancing of its existing senior and mezzanine debt through a €580 million high-yield bond
  • Elior, a leading global caterer and support services provider, in connection with its IPO on the Euronext Paris
  • JP Morgan, Credit Suisse, UniCredit, Crédit Agricole, and BNP Paribas in connection with the refinancing of the existing bank debt of Alain Afflelou Group via a €440 million high-yield bond offering due in 2019
  • PAI Partners/Global Closure Systems in connection with the refinancing of its existing debt through an issuance of €350 million aggregate principal amount of high-yield bonds due 2018
  • JP Morgan and the other underwriters in connection with the IPO of Criteo on NASDAQ
  • Goldman Sachs and JP Morgan in connection with the €190 million high-yield offering by Oberthur Technologies
  • Charterhouse Capital Partners / Elior in relation to the €350 million high-yield bond offering, to repay existing bank facilities
  • BNPP, Goldman Sachs, and JP Morgan on the €450 million high-yield offering by Elis
  • Credit Suisse, Crédit Agricole CIB, and Natixis on the €385 million high-yield bond offering of Medi-Partenaires
  • BNPP on the €300 million high-yield offering by Cegedim
  • Deutsche Bank and Credit Suisse on the €300 million high-yield offering by Loxam
  • PAI Partners/Cerba on the €365 million high-yield offering by Cerba
  • The joint bookrunners and initial purchasers, which included, among others, Deutsche Bank, on a €300 million high-yield bond offering by leading European equipment rental group Europcar
  • Credit Suisse, Deutsche Bank, Citigroup, J.P. Morgan, Morgan Stanley, and UBS, as joint bookrunners and initial purchasers, on the CHF1.1 billion high-yield bond offering implemented in connection with the acquisition by Apax Partners of Orange Communications S.A. (Switzerland) from France Telecom
  • Eutelsat S.A. in connection with its €800 million standalone bond offering
  • Lagardère in connection with the attempted IPO of Canal+ France
  • The joint bookrunners and initial purchasers, which included, among others, JP Morgan and Deutsche Bank, on a €350 million high-yield bond offering by the Europcar group to refinance in part a senior asset financing loan facility
  • Alain Afflelou in connection with its attempted IPO on Euronext Paris
  • Citi, HSBC, JP Morgan, as joint bookrunners and initial purchasers, on the standalone inaugural bond offering into the United States by RCI Banque for an aggregate principal amount of US$2 billion
  • The joint bookrunners and initial purchasers, Deutsche Bank and Credit Agricole CIB, on a €400 million high-yield bond offering by Europcar Group SA to refinance in part its existing indebtedness
  • Axa Private Equity and Permira on the high-yield bond offering by OdiGeo in connection with the joint acquisition by Axa Private Equity and Permira of Opodo and the related combination of Opodo, Go Voyages, and eDreams Inc
  • The joint bookrunners and initial purchasers, which included, among others Société Générale, in connection with Eutelsat S.A.’s inaugural Regulation S standalone bond offering for an aggregate principal amount of €850 million
  • The French sovereign fund FSI in connection with its minority investment into Euronext listed company Vilmorin & Co

Bar Qualification

  • Avocat (Paris)

Education

  • LL.M., Columbia University School of Law, 2001
  • Postgraduate Degree International Business Law (DEA), University of Paris I, 1999
  • Graduate Degree Private Law, University of Paris I (Pantheon-Sorbonne), 1998
General Recognition Thumbnail
December 19, 2018 Recognition

Latham wins Global Capital EQL Deal of the Year

Latham advised Shandong Ruyi and European TopSoho on an innovative and complex cross-border transaction that was awarded Asian Equity-Linked Deal of the Year by GlobalCapital.