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May 2014

Bernitsas Law advises on Ideal Standard refinancing

Bernitsas Law advised a private equity firm on the refinancing of Ideal Standard International’s existing debt by means of an exchange offer to holders of 11.75% €275m senior secured notes due 2018 to exchange those notes with various series of new notes secured by upstream guarantees by the Ideal Standard group companies and by asset security. Goldman Sachs International and Deutsche Bank AG, London Branch acted as the RCF Finance Parties and Wilmington Trust London Ltd acted as Security Agent.

Ideal Standard International is a bathroom solutions company with headquarters in Belgium and opertaing in Europe, Africa and the Middle East.

The Bernitsas Law team was led by Athanasia Tsene.