Latham & Watkins Advises on Saks Global’s Private Offering of US$2.2 Billion of Senior Secured Notes

Saks Global Holdings LLC (formerly HBC US Parent Holdings LLC) (Saks Global), the parent company of Saks Fifth Avenue, issued a private offering of US$2.2 billion aggregate principal amount of senior secured notes due 2029. Saks Global used the net proceeds from the offering as part of its financing for its completed acquisition of Neiman Marcus Group, the parent company of Neiman Marcus and Bergdorf Goodman, for a total enterprise value of US$2.7 billion.

Latham & Watkins LLP represented Jefferies and the other initial purchasers in the offering with a multidisciplinary team led by New York partners Marc Jaffe, Ian Schuman, Jesse Sheff, and Michelle Kelban. Advice was also provided on capital markets matters by New York counsel Ryan deFord, with associates Giulia Franzoso, Madison Venezia, and Viva Jerónimo; on banking matters by New York associates Daniel Ovadia and Sean Travers; on real estate matters by New York counsel Lisa Brabant, with associate Alex Liscio; on intellectual property matters by New York partner Jessica Cohen, with associate Ece Gonulal; on tax matters by New York partner Jiyeon Lee-Lim, with associate Tessa Young; and on cybersecurity, data privacy, and consumer protection matters by Washington, D.C. partner Jennifer Archie and Bay Area partner Robert Blamires, with associate Kathryn Parsons-Reponte.