Shearman & Sterling represented VIA Outlets B.V. (VIA), as issuer, in connection with VIA’s €600 million offering of 1.750 percent senior notes due 2028. The offering, which was conducted pursuant to Regulation S under the U.S. Securities Act, closed on November 15, 2021. Shearman & Sterling also advised VIA in connection with VIA’s new €100 million revolving credit facility.
The proceeds of the offering of the notes will be used to repay certain of VIA’s existing secured bank debt and to pay transaction fees and expenses. VIA will apply an amount equal to the net proceeds of the offering towards financing and/or refinancing a portfolio of eligible green projects in accordance with its green finance framework. This is the first ‘green bond’ ever issued by an outlet owner-operator in Europe.
VIA is a leading owner-operator of sustainable premium fashion outlet shopping destinations throughout Europe operating 11 outlet centers across nine countries in Europe. VIA is Europe’s largest single-owner operator of outlet centers and the third largest European outlet center operator by gross leasable area overall as of September 30, 2021. The company’s vision is to create premium shopping destinations, and offer best-in class, beautifully local, shopping experiences for guests and brand partners, while also paving the way for sustainable shopping.
The Shearman & Sterling team below included associate Eugene Kim (Washington, D.C.-Tax).