Shearman & Sterling represented Credit Suisse as the Sole Global Coordinator and Physical Bookrunner in connection with the offering by Dutch Lion B.V., the parent of HEMA B.V. (“HEMA”) of €85,000,000 11.25%/12.00% Senior PIK notes due 2020 (the “Notes”). The net proceeds from the issue and sale of the Notes will be used to refinance existing debt obligations of Dutch Lion B.V. The Notes will be general senior unsecured obligations of Dutch Lion B.V. The offering, which was conducted pursuant to Rule 144A and Regulation S under the U.S. Securities Act, closed on June 17, 2014.
HEMA is a leading general merchandise retailer in the Benelux region, with operations in the Netherlands, Belgium, Luxembourg, France, Germany and Spain. HEMA designs, markets, sells and distributes products through its own stores and its franchisee stores, as well as through its e-commerce platform. HEMA offers an extensive range of products and services to consumers, including apparel, household goods, personal care items, food, insurance and photo processing.
The Shearman & Sterling team of lawyers in the firm’s London and Washington, DC offices was led by Capital Markets partner Apostolos Gkoutzinis and included counsel Paul Clews and associates Dorothea Athanasiadou, Randy Nahle, Joseph Payne and Kely Pesketzi, as well as Finance partner Iain Goalen, associates Philip Stopford, Thomas Evans, Lauren Thompson and Igor Stermsek and trainees Peter Gallagher and Inyoung Song. Partner Kristen Garry and associates Mary Jo Lang, Jack Prytherch, Gabriel Ng and Ryan Roberts advised on Tax matters. Associate Nicolas De Clercq and legal assistants Angeliki Cheimona and Judith Smit-Haffmans also provided assistance on the transaction.