Latham & Watkins Advises on the Establishment of Kingspan’s €3 Billion EMTN Program and €750 Million Notes Issuance

Latham & Watkins has advised Kingspan Group plc (Kingspan), a global leader in insulation and building envelope solutions, on the establishment of its €3 billion Euro Medium Term Note Program, and the issuance of €750 million 3.5% notes due 2031 thereunder. The offering, which represented Kingspan’s debut Eurobond issuance, saw strong demand from investors and was significantly oversubscribed.

The Notes were rated BBB by S&P and BBB by Fitch, and were listed on the Global Exchange Market of Euronext Dublin. The Notes were offered to non-US investors outside the United States in reliance on Regulation S under the US Securities Act of 1933, as amended. 

BNP PARIBAS acted as Program arranger and dealer, and joint bookrunner in respect of the Issuance; BofA Securities, Danske Bank, and ING acted as Program dealers as well as joint bookrunners in respect of the Issuance; and Goodbody and J&E Davy acted as co-managers in respect of the Issuance.

The Latham team was led by London corporate partner Jennifer Engelhardt and Dubai corporate partner Basil Al-Jafari, with Dubai associate Lois Pickering. Advice was also provided by Paris corporate partner Roberto Reyes Gaskin, with Paris associate Hana Ladhari.