Global law firm White & Case LLP has advised independent European leader in outsourced business services Atalian on the conclusion of a commercial agreement for the refinancing and rescheduling of its entire bond debt with a group of noteholders representing 98.46 percent of the existing notes.
The transaction includes a cash redemption of €400 million under the existing notes, with a specified allocation of €100 million for participating noteholders, and a reinstatement of remaining amounts under the existing notes to be issued in the form of new euro-denominated senior secured notes due June 30, 2028 in an aggregate amount of approximately €836 million.
The transaction strengthens Atalian's financial position and provides it with greater flexibility to deploy its new strategic roadmap and improve profitability.
The White & Case team which advised on the transaction was led by partners Saam Golshani and Raphaël Richard (both Paris) and included partners Neeloferr Roy, Max Turner, Estelle Philippi, Clara Hainsdorf (all Paris), James Greene, Anna Soroka (both London), Thierry Bosly (Brussels & Luxembourg) and Thomas Glauden (Luxembourg & Brussels), counsel Jean-Guillaume Meunier (Paris) and associates Aliénor Huchot, Grégoire Berger, Chloé Bouffard, Martin Poirier, Claire Sardet (all Paris), Lucie Rivera (Luxembourg) and Diala Kakish (London).
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