White & Case advises emeis on refinancing

Global law firm White & Case LLP has advised Euronext Paris-listed emeis S.A. (emeis) on the refinancing of its existing debt, which will increase the average maturity of the debt by 2.5 years, bringing it to nearly five years, and will enable emeis to exit its accelerated safeguard plan ahead of schedule.

The refinancing will be carried out through a new financing totaling approximately €3.15 billion, which includes a first tranche structured as a term loan facility of approximately €2.2 billion with a maturity of six years, a second tranche consisting of €400 million in listed bonds placed with qualified financial investors with a maturity of six years, and a third tranche of €550 million structured as a €350 million term loan facility with a maturity at the end of June 2030 and a €200 million revolving credit facility drawable from January 2027 with a maturity at the end of December 2029.

The White & Case team which advised on the transaction was led by partners Samir Berlat, Séverin Robillard and Saam Golshani (all Paris) and included partners Boris Kreiss, Alicia Bali (both Paris), Christophe Wauters (Brussels), Fernando Navarro (Madrid), Stefano Bellani (Milan) and Grzegorz Abram (Warsaw), local partners Francesco Scebba (Milan) and Ruslana Hrischeva (Luxembourg), counsel Alfonso García Freire (Madrid) and associates Rafael Galvez, Anna Nijaradzé, Thibaut Alibert, Romain Bruno, Gaétan de La Raudière, Gustave Berton (all Paris), Maxim Arrazola de Oñate (Brussels & Luxembourg), Rafael Mínguez (Madrid), Amedeo Bardelli (Milan), Marlena Skowrońska and Maria Hałasa (both Warsaw).

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