Shearman & Sterling advised Advent International and Oberthur Technologies in connection with the market leading refinancing of Oberthur's senior bank debt with a New York law covenant-lite Term Loan B credit facility, consisting of a €260 million term loan tranche, a US$280 million term loan tranche and a €88 million revolving credit facility; arranged by J.P. Morgan Securities LLC, Goldman Sachs International, Lloyds Securities Inc., Barclays Bank Plc, HSBC France and Société Générale S.A., with JPMorgan Chase Bank, N.A. as administrative agent. Concurrently with this financing, Oberthur Technologies Holdings S.A.S. issued €190 million of Senior Notes. This cross-border financing also included a multifaceted intercreditor agreement.

The Shearman & Sterling team included partners Joshua Thompson (New York-Finance), Bjorn Bjerke (New York-Finance), Laurence Bambino (New York-Tax), Arnaud Fromion (Paris-Finance), Peter Hayes (London-Finance), Esther Jansen (Frankfurt-Finance), and Iain Scoon (London-Tax); of counsel Reade Ryan (New York-Finance); counsels Benjamin Cheng (New York-Finance), Sharon Lippett (New York-Executive Compensation & Employee Benefits), Anne-Sophie Maes (Paris-Tax), and Gabrielle Wong (London-Finance); and associates Laurent Bonnet (Paris-Finance), Shane Burke (London-Finance), Carrie Chen (New York-Finance), Amy Gluckman (New York-Finance), Timothy Hanson (New York-Executive Compensation & Employee Benefits), Monsiree Jirasarunya (London-Finance), Douglas Jones (New York-Tax), Jackson Lam (London-Finance), Maud Lefeuvre (Paris-Mergers & Acquisitions), Dana Lord (New York-Finance), Rory Milligan (London-Finance), Vieri Parigi (Milan-Finance), Adrien Paturaud (Paris-Finance), Jack Prytherch (London-Tax), Daniel Smith (New York-Tax), Philip Stopford (London-Finance), Lauren Thompson (London-Finance) and Odilo Wallner (Frankfurt-Finance).