Goodwin’s Private Equity team advised the Picard group on the refinancing of its existing debt.
Picard is a French company specializing in the retail sale of frozen food products.
The refinancing consisted of two bonds issues - one at a fixed rate, the other at a floating rate - both due in 2029.
This financing contributed to partially redeeming the existing senior secured fixed rate notes due 2026. Additionally, the group extended the average maturity of its debt.
The Goodwin team included Thomas Maitrejean, Simon Servan-Schreiber and Pauline Louis on corporate aspects, Marie-Laure Bruneel and Paul Fournière on tax aspects, and Frédéric Guilloux, Laurent Bonnet and Elisa Revel on financing aspects.