Simpson Thacher represented a consortium of Cinven, KKR and Providence on a high yield bond offering to finance a portion of the purchase price of Masmovil Ibercom. A special purpose vehicle of the consortium has completed a 144A and Regulation S offering of €720 million in aggregate principal amount of 4% Senior Secured Notes due 2027. The transaction closed on September 30, 2020.
Founded in 1997, the Masmovil Group is the fastest growing Western European telecommunications operator and the fourth largest telecommunications operator in Spain.
The Simpson Thacher team included Nick Shaw, Gil Strauss, Pieter Lavens and William G. Taylor (Capital Markets); Shahpur K. Kabraji, Jia Meng and Kristin Hoo (Credit); Yash Rupal, Meredith B. Jones, Joseph A. Tootle, Gal Shemer and Ellie Verran (Tax); and Jennifer Neilsson (ERISA).