Shearman & Sterling represented Credit Suisse, The Royal Bank of Scotland, Barclays, BNP Paribas, CM-CIC Securities, DNB Markets, Jefferies, KBC Bank, Lloyds Bank, Nordea and Société Générale as initial purchasers on Thomas Cook’s €400 million high yield bond offering.
The proceeds of the offering will be used to redeem any or all of Thomas Cook’s 2015 Senior Notes pursuant to a tender offer, to redeem any remaining 2015 Senior Notes at maturity or to purchase any or all of the 2015 Senior Notes on the secondary market and to enable the cancellation of one of Thomas Cook’s existing credit facilities.
The Shearman & Sterling team of lawyers in the firm’s London, New York and Washington, DC offices included finance partner Clifford Atkins. He was assisted by capital markets associates Dora Athanasiadou, Randy Nahlé, Arthur Ravignon and Saif Alaqili, finance associate Eric Ho and finance trainee Brook Geremew. Partner Kristen Garry and associate Judy Fisher advised on the US tax aspects of the transaction, and counsel Simon Letherman and associates Melanie Gendy and Gabriel Ng advised on the English tax aspects of the transaction.