Debevoise Advises B&M in its £250 Million Senior Secured Notes Offering and Concurrent Tender Offer

23 November 2023

Debevoise & Plimpton LLP has advised B&M European Value Retail S.A. ("B&M") in its offering of £250 million aggregate principal amount of 8.125% senior secured notes due 2030, as well as on B&M's concurrent tender offer of a portion of its existing 3.625% senior secured notes due 2025.

The proceeds of the offering will be used to purchase approximately £244 million in aggregate principal amount of its existing notes in the tender offer, as well as accrued and unpaid interest on such notes, to pay transaction expenses and for general corporate purposes.

B&M is a well-established and leading variety goods store in the UK selling grocery and general merchandise products, with over 1,100 stores in the UK and France. B&M is listed on the London Stock Exchange and the new notes will be listed on the Luxembourg Stock Exchange Euro MTF.

The Debevoise team advising B&M was led by partners E. Raman Bet-Mansour and Nicholas Pellicani, and included partner Alan Davies, international counsel Gregg Young, and associates Tereza Batlova, Milo Gordon-Brown and Jennifer Lang.