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News Dec 02, 2016

Shearman & Sterling Advises on Autodis S.A's €520 Million Senior Secured Notes Offering

Shearman & Sterling advised the initial purchasers, J.P. Morgan, BNP Paribas, Credit Suisse, Deutsche Bank and Oddo, in connection with Autodis S.A.’s offering of its €260 million 4.375% senior secured fixed rate notes due 2022 and €260 million senior secured floating rate notes due 2022. The proceeds from the offering were used to redeem the entire aggregate principal amount of the €270 million 6.500% senior secured notes due 2019 issued by Autodis S.A. on January 31, 2014 and May 15, 2015 to fund the partial redemption of €140 million in aggregate principal amount of the €239 million 9.000% / 9.750% senior pay-if-you-can notes due 2020 issued by Dakar Finance S.A. a parent of Autodis S.A. and to repay all amounts outstanding under an €85 million bridge facility entered into by Autodis S.A. on September 28, 2016.

Autodis S.A. is a company controlled by Bain Capital and a subsidiary of Autodis Group S.A.S. Autodis Group S.A.S. is the leading independent distributor of car and heavy goods vehicle parts in France. Bain Capital is one of the world's leading private, alternative asset management firms, with approximately $75 billion in assets under management.

The Shearman & Sterling team included partners Iain Goalen (London-Finance), Pierre-Nicolas Ferrand (Paris-Finance), Kristen Garry (Washington, DC-Tax) and Simon Letherman (London-Tax); counsel Rebecca Marques (London-Capital Markets), Philippe Wolanski (Paris-Finance), Anne-Sophie Maes (Paris-Tax) and Mehran Massih  (London-Environmental); and associates Morgan Hill, Randy Nahle, and Elena Dzhurova (all London-Capital Markets), Philip Stopford, Warren Stapley (both London-Finance), Bruno Valenti (Paris-Finance), Amandine Souin (Paris-Capital Markets), Eric Grosshandler (New York-Tax) and Charles Filleux-Pommerol (Paris-Tax).