Debevoise Advises SPIE in Financing Aspects of its IPO

2 June 2015

The London and Paris offices of Debevoise & Plimpton LLP have advised SPIE in financing aspects of its initial public offering (IPO) on the Euronext Paris stock exchange. The financing comprised a new senior facilities agreement totaling €1.525 billion, and the repayment of its existing senior facilities agreement and second lien notes. The Autorité des marchés financiers (AMF) granted its visa for the IPO prospectus on May 29, 2015.

SPIE is owned by private equity funds Clayton Dubilier & Rice and Ardian, as well as Caisse de dépôt et placement du Québec (CDPQ), and members of management and employees of SPIE.

SPIE is a European leader in multi-technical services in the areas of energy and communication. It supports its customers to design, build, operate and maintain facilities that are energy-efficient and environmentally friendly.

Earlier in 2015, Debevoise advised SPIE on arrangements for the refinancing of its debt, which included facilities totaling €2.16 billion. In 2011, Debevoise also advised Clayton, Dubilier & Rice, along with Ardian and CDPQ, in the financing of the acquisition of SPIE from PAI Partners in a transaction worth €2.1 billion.

The Debevoise team advising SPIE was led by London based partners Alan J. Davies and Raman Bet-Mansour. It also included Paris based international counsel Philippe Tengelmann, and London associates Thomas Smith and Felix Paterson. Tax advice was provided by London based partner Matthew D. Saronson and international counsel Cécile Beurrier.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. The firm’s commercially savvy lawyers regularly lead strategic transactions and complex disputes for world-class clients.