Loxam’s €350 High Yield Bond Issue

Shearman & Sterling advised the initial purchasers on the transaction.

Loxam completed its offering of €350 million 4.500% senior secured notes due 2027. The notes are guaranteed on a senior basis by Nationwide Platforms Limited, Loxam Module S.A.S. Ramirent Finland Oy and Ramirent AB, and are secured on a first-priority basis by certain intellectual property rights and the share capital of certain of Loxam’s subsidiaries. The offering, which was conducted pursuant to Rule 144A and Regulation S under the U.S. Securities Act, closed on February 10, 2022.

Crédit Agricole Corporate and Investment Bank, BNP Paribas, Deutsche Bank Aktiengesellschaft, Barclays Bank Ireland PLC, BofA Securities Europe SA, Crédit Industriel et Commercial S.A., J.P. Morgan SE, Natixis, and Société Générale acted as initial purchasers for the offering.

Loxam is the leading equipment rental company in Europe and is the fourth-largest player in the world with a network of approximately 1,050 branches over 30 countries on four continents.

The Shearman & Sterling team included Ward Mckimm, Gordon Houseman, David St-Onge, Benjamin Marché, Kristen Garry, Thomas Donegan, Kristina Killick, Daniel Kachmar, Derek Andersen and Charlie Gelbon.

Involved fees earner: Derek Andersen – Shearman & Sterling; Thomas Donegan – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Charlie Gelbon – Shearman & Sterling; Gordon Houseman – Shearman & Sterling; Daniel Kachmar – Shearman & Sterling; Kristina Killick – Shearman & Sterling; Benjamin Marché – Shearman & Sterling; Ward McKimm – Shearman & Sterling; David St-Onge – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Barclays Bank Ireland PLC; BNP Paribas; BofA Securities Europe SA; Crédit Agricole Corporate and Investment Bank; Crédit Industriel et Commercial; Deutsche Bank; JP Morgan Securities; Natixis; Société Générale;

Naoual Sadouqi

Author: Naoual Sadouqi