Milbank LLP has advised BNP Paribas, Société Générale and the other initial purchasers in connection with Parts Europe S.A.’s tap offering of €280 million 6.50% Senior Secured Notes due 2025.
The net proceeds of the bond offering were used to fund the partial redemption of Parts Europe’s Senior Secured Floating Rate Notes due 2022 (governed by an indenture dated November 14, 2016), to fund the redemption of the entire aggregate principal amount of Parts Europe’s Senior Secured Floating Rate Notes due 2022 (governed by an indenture dated February 7, 2019), for general corporate purposes and to pay certain related fees and expenses.
Parts Europe, a portfolio company of Bain Capital, is a leading aftermarket light vehicle spare parts distributor and truck spare parts distributor and repairer in Western Europe, mainly active in France, Benelux, Italy and Spain.
The Milbank team was led by European Leveraged Finance/Capital Markets partner Rebecca Marques, with associates Lauren Obee and Ignacio Perez Bessio. The team also included New York Tax partner Eschi Rahimi-Laridjani and associate Benjamin Heller.
