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News & Insights

Iliad Holding S.A.S.’s High‑Yield Senior Secured Notes Offerings and Concurrent Cash Tender Offer

June 11, 2024

Cravath represented the initial purchasers in connection with the €600 million and $750 million 144A/Reg. S high‑yield senior secured notes offering and the €150 million and $200 million 144A/Reg. S high‑yield additional senior secured notes offering of Iliad Holding S.A.S. (“Iliad”), a leading European telecommunications provider. The notes were listed on The International Stock Exchange. The transactions closed on May 14, 2024, and May 16, 2024, respectively.

Cravath also represented the dealer managers in connection with Iliad’s concurrent cash tender offer of €400 million and $500 million. Proceeds of the offering will be used to partially refinance Iliad’s existing notes through the tender offer and to finance the acquisition of Tele2 Sverige AB by Freya Investissement, an investment vehicle jointly owned by Iliad and NJJ Holding. The cash tender offer expired on May 28, 2024.

The Cravath team included partners Philip J. Boeckman and Philip Stopford and associates Katherine R. Booth, Luke A. Martin, Mayssa Khattar, Francesca Sebastiani and Belén Díaz‑Negrete on capital markets matters, and partner Matthew Morreale on environmental matters.

Related Practices & Industries

  • Corporate
  • Capital Markets
  • Environmental
  • London
  • Telecommunications

People

Photo
Name
Philip J. Boeckman
Title
Corporate
Title
Partner
Email
pboeckman@cravath.com
Phone
+44-20-7453-1020
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    Education

    • J.D., 1991, University of Missouri Columbia School of Law
      Order of the Coif, magna cum laude
    • B.A., 1988, Westminster College
      cum laude

    Admitted In

    • New York
    Photo
    Name
    Philip Stopford
    Title
    Corporate
    Title
    Partner
    Email
    pstopford@cravath.com
    Phone
    +44-20-7453-1050
    vCard
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      Education

      • LPC, 2006, Oxford Institute of Legal Practice
        with Distinction
      • PGDL, 2005, Oxford Brookes University
        with Merit
      • B.A., 2004, University of Oxford
        with Honors

      Admitted In

      • England & Wales
      Photo
      Name
      Matthew Morreale
      Title
      Corporate
      Title
      Partner
      Email
      mmorreale@cravath.com
      Phone
      +1-212-474-1534
      vCard
      Download vCard

        Education

        • J.D., 1997, Columbia Law School
          Harlan Fiske Stone Scholar
        • M.S., 1994, University of Pennsylvania
        • B.A., 1990, University of Pennsylvania
        • B.A.S., 1990, University of Pennsylvania

        Admitted In

        • New York

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