Clifford Chance

Clifford Chance advises a syndicate of 21 underwriters on Avolta’s high-yield bond offering

Global law firm Clifford Chance has advised a syndicate of 21 underwriters led by Banco Santander, S.A., BNP PARIBAS and ING Bank N.V., on the offering of €500 million 4.500% Senior Notes due 2032 by Avolta through its subsidiary Dufry One B.V.. Avolta (previously known as Dufry) is a leading global travel experience player in the travel retail and F&B industry, with operations in 70 countries.

U.S. High Yield Partner, Michael Dakin led the Clifford Chance team and was supported by senior associate Yash Ranade and associate Sarah Wetzel.

Michael Dakin said: " We are very pleased to have been trusted by our clients, which include the leading investment banks in the European debt capital markets, in advising them on this transaction. This successful trade, within dynamic market conditions, is a testament to the preparedness of the working group and coordinated efforts of the underwriting syndicate."

Clifford Chance also represented the underwriters on some of Avolta's previous bond issuances.