Milbank Advises Joint Bookrunners on Vivion’s Debut €700M Bond Offering

Milbank LLP advised the joint bookrunners in connection with the debut issuance by Vivion Investments S.à r.l. of €700 million three percent senior notes due 2024.

Vivion is a commercial real estate company focused on the ownership, management and improvement of hotels and commercial office property in the United Kingdom and Germany.

The notes are being offered in the context of a series of transformative transactions, including a holding company reorganization, several acquisitions and a disposal of property, a separation of property-owning companies from operating companies and the refinancing of certain indebtedness. Proceeds of the notes will initially be placed into escrow pending the completion of certain of these transactions. Upon release from escrow, the proceeds will be primarily used for debt refinancing, ongoing acquisitions and general corporate purposes.

The Milbank team was led by London Leveraged Finance/Capital Markets partners Apostolos Gkoutzinis and Suhrud Mehta and special counsel Randy Nahlé, with partner Alexandra Grant, special counsel Miko Bradford and associates Rahul Chatterji, Joseph Richmond, Kenneth Ryan, Tom Neilson, Maria C. Schweinberger and Stephanie Colquhoun. The team also included London Alternative Investments partner James Warbey and associate Azeem Sulemanji and London Tax partner Russell Jacobs and associate James Seddon.