Latham Advises Afflelou on €560 Million High Yield Offering and €287 Million Concurrent Tender Offer

Latham & Watkins has advised Afflelou, a leading optical product and hearing aid franchisor in Europe, on the issuance of €560 million 6.000% senior secured notes due 2029. The firm also advised on a concurrent tender offer outside the United States on its €460.0 million senior secured fixed rate notes due 2026. This offer resulted in €287 million senior secured fixed rate notes being successfully purchased. As part of the refinancing, Afflelou also obtained a new €30 million senior secured revolving credit facility.

The Latham team was led by Paris capital markets partners Thomas Margenet-Baudry and Roberto Reyes Gaskin, with associates Jackie Yonover and Samy Amirouchen. Advice was also provided on banking matters by Paris Michel Houdayer, with associates Virginie Terzic and Natacha Enoh; and on tax matters by Paris partner Olivia Rauch-Ravisé and New York partner Jocelyn Noll, with London associate Clémence Morel and Boston associate Tessa Young.