White & Case Advises Angelo Gordon on Technicolor's Contemplated €300 Million Mandatory Convertible Notes Issue

Global law firm White & Case LLP has advised Angelo Gordon on its contemplated subscription to Technicolor's planned issue of €300 million Mandatory Convertible Notes (MCNs) in the context of Technicolor's plan to list and spin-off Technicolor Creative Studios (TCS) to enable its further growth and development and then deleverage both companies through a refinancing of the entire existing debt structure.

The conversion of the MCNs into Technicolor shares would be effective upon the execution of Technicolor's spin-off.

The MCNs are a key component of the spin-off process, backstopped by Angelo Gordon and supported by Bpifrance, together with other strategic shareholders who have committed to subscribe to its full amount.

The White & Case team which advised on the transaction was led by partner Saam Golshani and counsel Hugues Racovski (both Paris) and included partners Séverin Robillard, Denise Diallo, Alexandre Ippolito (all Paris) and Gilles Teerlinck (London) and associates Boris Kreiss and Sarah Kouchad (both Paris).

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