Thomas Margenet-Baudry
Partner
Paris
thomas.margenet-baudry@lw.com
+33.1.40.62.20.08
PRACTICES
- Capital Markets
- Mergers & Acquisitions
- Public Company Representation
INDUSTRIES
- Entertainment, Sports & Media
EDUCATION
- LL.M., Columbia University School of Law, 2001
- Postgraduate Degree International Business Law (DEA), University of Paris I, 1999
- Graduate Degree Private Law, University of Paris I (Pantheon-Sorbonne), 1998
LANGUAGES SPOKEN
PROFILE
Thomas Margenet-Baudry is a partner in the firm's Corporate Department and the Office Managing Partner of Latham & Watkins' Paris office. His practice includes:
- Capital markets
- Mergers and acquisitions
- Public company representation
Thomas advises clients on capital markets transactions, in particular high yield debt and equity securities. He has represented issuers and underwriters on a broad range of French, international, and US capital raising transactions, including initial public offerings, high yield financings, rights issues and investment grade debt offerings. He also has broad experience with French public M&A and tender offer regulation, and regularly advises clients on French and EU corporate governance and securities regulation matters.
Thomas is also a member of the New York bar.
Recognition
Thomas is recognized as a Leading Individual. Chambers Europe 2022
Thomas is recognized as a Leading Individual. According to clients, “Thomas is incredibly smart and goes the extra mile, beyond his core area of expertise, to find innovative solutions to complex issues. It is an absolute pleasure to work with Thomas: he is extremely nice, he has great listening skills, and he is very hands-on but with a clear sense of what is important.” The Legal 500 EMEA 2020
According to his clients, "he finds good solutions for everyone, is very on top of everything and knows IPOs inside out." Chambers Europe 2020
Thomas receives praise from market commentators for his handling of both equity and debt capital markets mandates. He has extensive expertise advising on high-yield transactions. He also assists with IPOs and block trades. Chambers Europe 2019
Thomas is recognized as a Leading Individual by The Legal 500 EMEA 2019.
EXPERIENCE
Thomas' recent experience includes advising:
- Afflelou on a €560 million high-yield offering and €287 million concurrent tender offer
- The banks on Goldstory’s €850 million senior secured notes refinancing
- The arrangers on the French veterinary pharmaceutical group Ceva Santé Animale’s term loan B refinancing of €2.3 billion
- Term loan B lenders steering committee in relation to the signing of the lock-up agreement by the Casino group
- Loxam, France’s market leader and the fourth-largest global player in equipment and tool leasing, in its €400 million refinancing
- Burger King France in its €45 million acquisition financing
- The initial purchasers in Tereos’ €350 million high-yield senior notes offering
- The banks in connection with Faurecia’s €700 million of sustainability-linked senior notes due 2026
- Loxam in connection with a €130 Million loan from the European Investment Bank (EIB)
- The underwriters of Faurecia’s €705 million rights issue
- Farallon Capital as subscriber of GreenYellow’s issue of €109 million convertible bonds with warrants attached; GreenYellow is a leading energy transition company and subsidiary of Casino Group
- Burger King in its sale of Quick
- Elior Group on its €550 million senior notes issuance
- Derichebourg in its inaugural €300 million green notes offering
- The underwriters (Credit Suisse, BNP Paribas, Crédit Agricole CIB, Natixis, Société Générale, Arkea Banque Entreprises et Institutionnels, and CM-CIC) in connection with the €480 million green High Yield bond issued by the Paprec Group
- The underwriters on the Initial Public Offering of American Depositary Shares by Cellectis
- Deutsche Bank, BNP Paribas, Credit Suisse, Crédit Agricole CIB, Natixis, and Société Générale in connection with the €660 million high yield deal to refinance French industrial equipment rental business Loxam's existing debt
- Fives on the refinancing of its existing senior and mezzanine debt through a €580 million high yield bond
- Elior, a leading global caterer and support services provider, in connection with its IPO on the Euronext Paris
- JP Morgan, Credit Suisse, UniCredit, Crédit Agricole, and BNP Paribas in connection with the refinancing of the existing bank debt of Alain Afflelou Group via a €440 million high yield bond offering due in 2019
- PAI Partners/Global Closure Systems in connection with the refinancing of its existing debt through an issuance of €350 million aggregate principal amount of high yield bonds due 2018
- JP Morgan and the other underwriters in connection with the IPO of Criteo on NASDAQ
- Goldman Sachs and JP Morgan in connection with the €190 million high yield offering by Oberthur Technologies
- Charterhouse Capital Partners / Elior in relation to the €350 million high yield bond offering, to repay existing bank facilities
- BNPP, Goldman Sachs, and JP Morgan on the €450 million high yield offering by Elis
- Credit Suisse, Crédit Agricole CIB, and Natixis on the €385 million high yield bond offering of Medi-Partenaires
- BNPP on the €300 million high yield offering by Cegedim
- Deutsche Bank and Credit Suisse on the €300 million high yield offering by Loxam
- PAI Partners/Cerba on the €365 million high yield offering by Cerba
- The joint bookrunners and initial purchasers, which included, among others, Deutsche Bank, on a €300 million high yield bond offering by leading European equipment rental group Europcar
- Credit Suisse, Deutsche Bank, Citigroup, J.P. Morgan, Morgan Stanley, and UBS, as joint bookrunners and initial purchasers, on the CHF1.1 billion high yield bond offering implemented in connection with the acquisition by Apax Partners of Orange Communications S.A. (Switzerland) from France Telecom
- Eutelsat S.A. in connection with its €800 million standalone bond offering
- Lagardère in connection with the attempted IPO of Canal+ France
- The joint bookrunners and initial purchasers, which included, among others, JP Morgan and Deutsche Bank, on a €350 million high yield bond offering by the Europcar group to refinance in part a senior asset financing loan facility
- Alain Afflelou in connection with its attempted IPO on Euronext Paris
- Citi, HSBC, JP Morgan, as joint bookrunners and initial purchasers, on the standalone inaugural bond offering into the United States by RCI Banque for an aggregate principal amount of US$2 billion
- The joint bookrunners and initial purchasers, Deutsche Bank and Credit Agricole CIB, on a €400 million high yield bond offering by Europcar Group SA to refinance in part its existing indebtedness
- Axa Private Equity and Permira on the high yield bond offering by OdiGeo in connection with the joint acquisition by Axa Private Equity and Permira of Opodo and the related combination of Opodo, Go Voyages, and eDreams Inc
- The joint bookrunners and initial purchasers, which included, among others Société Générale, in connection with Eutelsat S.A.’s inaugural Regulation S standalone bond offering for an aggregate principal amount of €850 million
- The French sovereign fund FSI in connection with its minority investment into Euronext listed company Vilmorin & Co