SJ Berwin advised frozen products company Picard Group in connection with the refinancing of € 675 million senior debt which was acquired in 2010 during the acquisition of the group by Lion Capital. This refinancing was made ​​by the issuance by the Picard group of Floating Rate Notes for an amount of 480 million repayable in 2019 and the establishment of a revolving credit facility up to $ 30 million euros.

This was managed by the Paris office of SJ Berwin, with assistance from offices in London, Luxembourg, Milan and London office  Cravath, Swaine & Moore LLP.

The Picard group, specializing in the distribution of frozen foods, employs more than 4,500 employees and an annual turnover of approximately € 1.2 billion.