Latham Advises the Banks in Connection With Kapla Holding’s Combined New Issue and Tap of €550 Million Senior Secured Notes

Kapla Holding, the holding company of the equipment rental company Kiloutou, one of the leading European equipment rental players, has issued €550 million of senior secured notes. The transaction encompasses a new issue of €400 million Senior Secured Fixed Rate Notes due 2031 and a tap issue of its outstanding €150 million Senior Secured Floating Rate Notes due 2030.

Kapla Holding used the net proceeds of the offering to (i) repay its Senior Secured Fixed Rate Notes due 2026, (ii) repay all amounts outstanding under the Revolving Credit Facility, (iii) repay all amounts outstanding under the Senior Term Loan Facility, (iv) fund cash to the balance sheet, and (v) pay certain fees, costs, and expenses in connection with the transactions.

The Latham team was led from Paris by capital markets partner Roberto Reyes Gaskin, with associates Jackie Yonover, Madeleine Hahn de Bykhovetz, and Hana Ladhari. Advice was also provided on finance matters by Paris partners Xavier Farde with associates Virginie Terzic and Bruna Neiva Cardante.