Picard Groupe S.A.S.’s High‑Yield Senior Secured Debt Offering

Cravath represented Picard Groupe S.A.S. in connection with its €480 million 144A/Reg. S high‑yield floating rate senior secured debt offering. Picard Groupe S.A.S. is the parent company of Picard Surgelés, the leading retailer of frozen food products in France, and a pioneer in the sector. Picard is a portfolio company of Lion Capital LLP. The transaction closed on August 1, 2013.

The Cravath team included partner Alyssa K. Caples and associates Margaret R. Markman, Benjamin S. Persina and Gemma Mootoo Rajah on corporate matters and associate Neetin Gulati on tax matters. Summer associates Chere C. See and Amber Lam also worked on corporate matters.