April 28, 2020
Latham & Watkins advised the initial purchasers in connection with the launch and pricing of Merlin Entertainments’ €500 million five-year senior secured notes offering. The proceeds will be used by Merlin for general corporate purposes. The note features a 120-day optional redemption of up to 40% of the bonds with the proceeds from certain "regulatory debt" obtained by the group during that period.
The firm also recently advised Verisure on the pricing of its €200 million offering of five-year floating rate senior secured notes on 16 April 2020. The transaction, which closed on 23 April 2020, represents the first issuance in the European high yield bond market since the beginning of March.
The Latham team advising the initial purchasers on the Merlin transaction was led by London corporate finance partner Jennifer Engelhardt and associates Taylor Mullings, Aishwarya Nair, Matthew Baumann, and Kelsey Moore. Finance advice was provided by London partners Mohamed Nurmohamed and Manoj Bhundia and associates Suroop Kandola and Medha Vikram.
The team advising Verisure was led by London corporate finance partner Jocelyn Seitzman with counsel Brad Weyland, and associates Patrick Kwak, Philip Houten, and Meghal Gajaria. Finance advice was provided by London partner Adrian Chiodo and associates Hendrik Smit and Philipp Hagenbuch.