Debevoise Advises B&M in its £250 Million Offering

9 February 2017

The London office of Debevoise & Plimpton LLP has advised B&M in its £250 million offering of senior secured notes due 2022 with a coupon of 4.125% per annum.

The offering is in connection with the refinancing of certain of B&M’s existing senior credit facilities, on which Debevoise also advised. The existing facilities will be replaced by new senior credit facilities, which will include a £300 million term loan A facility and a £150 million revolving credit facility. The proceeds from the offering of the notes, together with the new term loan A facility and cash on hand, will be used to repay all amounts outstanding under the existing senior facilities, to pay fees and expenses associated with the refinancing, including the offering of the notes, and for general corporate purposes.

B&M is a variety retailer with 533 stores in the UK, as well as 73 stores in Germany primarily operating under the "Jawoll" brand. It is listed on the London Stock Exchange (“BME”).

The Debevoise team advising B&M was led by London partners Raman Bet-Mansour and Alan Davies. The team also included international counsel Andrew C. Rearick, and associates Nathalie Henderson-Stewart and Brad Taylor. Tax advice was provided by international counsel Cécile Beurrier and Ellie Mends.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.