A cross-border team from Allen & Overy has advised a number of banks in relation to the issuance of EUR315 million Senior Secured Floating Rate Notes due 2027 by PrestigeBidCo GmbH (the Issuer), the subsequent issuance by the Issuer of an additional EUR35 million of Senior Secured Floating Rate Notes due 2027 and the entry into a new EUR110 million revolving credit facility by the Issuer and its subsidiaries (the BestSecret Group). The Issuer used the net proceeds from the notes to repay and redeem its existing notes and for general corporate purposes.
The BestSecret Group is a leading members-only destination for online off-price fashion, with a focus on mid-market to luxury fashion in Europe. The BestSecret Group provides its customers with exclusive access to a portfolio of around 3,000 brands, while offering its brand partners a structural solution to sell their overstock through a discreet and controlled channel and protecting their brand equity.
In London, the A&O team was led by partners Brad Weyland and Nicholas Clark, senior associates Carolyn Slauson Ali and Elena Dzhurova, and associates Qi Xie, Jeff Xu, Emenike Omeye, Jack Dryden and Andreas Georgiades. The Frankfurt and Munich teams were led by partner Walter Uebelhoer with partner Heike Weber providing specialist tax advice, counsel Ilja Baudisch and associates Joerg Weber and Sebastian Hanke, with associate Manuel Koechel providing specialist tax advice.
Powered by WPeMatico