CMS advised Crédit Agricole Corporate and Investment Bank on the Paragon group's bond issue for a total amount of €52,000,000 listed on the Euro MTF market of the Luxembourg Stock Exchange.
Paragon group, one of the world leaders for solutions for technology-based businesses, present in 12 countries with revenues of over €600 million and 5,000 employees, successfully raised, via its English subsidiary Grenadier Holdings Plc, a total amount of €52,000,000 due 15 December 2023 and bearing interest at a rate of 4% per annum which may be adjusted depending on the level of the leverage ratio.
The transaction, arranged by Crédit Agricole Corporate and Investment Bank, was a private placement of bonds for institutional investors (Euro PP), with a listing on the Euro MTF market of the Luxembourg Stock Exchange. The bonds benefit from a guarantee governed by English law granted by the holding company Paragon Group Ltd and from pledges over financial securities accounts in the issuer’s French and German subsidiaries.
CMS advised Crédit Agricole Corporate and Investment Bank.
In France, the CMS team comprised Marc-Etienne Sébire, Partner and Myriam Issad, Associate.
In the UK, the CMS team comprised Michael Cavers, Partner, Kirsty Templar and Alvino van Schalkwyk, Associates.
In Germany, the CMS team comprised Oliver Dreher, Partner, Orna Freifrau von Fürstenberg and Florian Blanke, Associates.
Franck Lipworth, Partner in Cabinet Lipworth, advised the issuer.