Bellis Acquisition Company plc’s High-Yield Senior Secured Notes Offering

Cravath represented the initial purchasers in connection with the £500 million 144A/Reg. S high‑yield senior secured notes offering of Bellis Acquisition Company plc, an entity indirectly beneficially owned by TDR Capital and Mohsin Issa CBE and Zuber Vali Issa CBE. ASDA, a subsidiary of Bellis Acquisition Company plc, is the third‑largest grocery retailer in the United Kingdom and the second‑largest grocery retailer in the North of England, Scotland and Wales. The notes are expected to be listed on The International Stock Exchange. The transaction closed on November 5, 2021.

The Cravath team included partner George A. Stephanakis, European counsels Roberto Bruno and Virginie Marier and associates Maurice Temming and Delphine Van Damme on capital markets matters, partner Christopher K. Fargo and associates Kyle R. Jorstad and Christopher M. Winters on tax matters, and partner Matthew Morreale on environmental matters. Konstantinos Georgiou also worked on capital markets matters.