Allen & Overy LLP has advised Goldman Sachs International, BNP Paribas and KKR Capital Markets Limited on issuing two tranches of high-yield bonds.

The Selecta Group issued EUR 350 million and CHF 245 million high-yield bonds each bearing a coupon of 6.50% via Selecta Group B.V. The fixed-interest high-yield bonds have a 5-year term and were sold to institutional investors in denominations of EUR 100,000 and CHF 150,000. The refinancing also included a EUR 50 million credit facility and a EUR 220 million PIK facility.

Allen & Overy advised the bank syndicate, which was led by Goldman Sachs, on this refinancing transaction.

The Allen & Overy team comprised partners Gernot Wagner (US corporate finance), Thomas Neubaum (banking & finance) and Dr. Heike Weber (tax), senior associate Dr. Urs Lewens (banking & finance) and associates Rebecca Emory, Oliver Reimers (both US corporate finance), Elke Funken-Hötzel and Patrick Reuter (both banking & finance, all Frankfurt).

They were supported from the London office by partners Stephen Kensell, Denise Gibson (both banking & finance) and Jeanette Cruz (international capital markets) and senior associates Tamer Bahgat (international capital markets) and Robert Cockburn (banking & finance) and associate Caitlin Carey (international capital markets).