Shearman & Sterling represented Tereos SCA on its high yield bond offering of €350 million 4.75 percent senior notes due 2027 through its subsidiary Tereos Finance Group I SA.
The proceeds of the offering were used to pay in priority a cash tender plus the premium on the cash tender for the company’s existing senior notes due 2023 and to pay fees and expenses in connection with the transaction. The offering, which was conducted pursuant to Rule 144A and Regulation S under the U.S. Securities Act, closed on January 20, 2022.
Tereos is the leading producer of sugar in France by volume and sells its sugar, alcohol, ethanol and starch products in over 130 countries worldwide. The company operates through a network of 46 industrial sites in 18 countries with approximately 22,800 employees.
The Shearman & Sterling team below included associates Derek Andersen (London-Finance), Stephanie Li (New York-Funds) and Sydney Kane (New York-Tax).