July 21, 2020

Milbank Advises Initial Purchasers on €300M Offering of Senior Secured Notes by Parts Europe S.A. (Bain Capital)


Milbank LLP has advised Citigroup Global Markets Limited, BNP Paribas, Société Générale and the other initial purchasers in connection with Parts Europe S.A.’s offering of €300 million 6.50% Senior Secured Notes due 2025. The net proceeds of the bond offering were used to fund the redemption of the entire aggregate principal amount of Parts Europe’s 4.375% Senior Secured Notes due 2022, the redemption of €37 million aggregate principal amount of Parts Europe’s Senior Secured Floating Rate Notes due 2022, 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 special counsel Randy Nahle and associates Lauren Obee, Ignacio Perez Bessio and Chara Makrygianni. The team also included New York Tax partner Eschi Rahimi-Laridjani and associate Benjamin Heller.