Kiloutou Secures €550 Million High Yield Refinancing with Paul Hastings's Guidance
Deal News | Jan 21, 2025 | Paul Hasting
Kiloutou, a prominent equipment rental company in Europe and a portfolio company of HLD and Dentressangle, has successfully refinanced its existing debt with the assistance of Paul Hastings LLP. The law firm advised Kiloutou on the issuance of €550 million in senior secured notes. These notes consist of €400 million at a 5% fixed rate due in 2031, and €150 million in additional floating rate notes due in 2030. The raised capital will primarily be used to restructure Kiloutou's existing debt obligations and bolster its financial balance sheet. Paul Hastings, which is highly regarded for its expertise in finance, was led in this advisory role by Global Finance partners Patrick Bright and Jemma Lohr McPherson, supported by associates Adnane Ayeb, Rebecca Bunyan, and Tommaso d'Andrea di Pescopagano.
Sectors
- Financial Services
- Construction Equipment Rental
Geography
- Europe – Kiloutou operates as a generalist equipment rental company across Europe.
Industry
- Financial Services – Paul Hastings's role as a legal advisor in high yield refinancing underscores the firm's operations within financial services, offering expert legal advice to investment decisions and financial structuring.
- Construction Equipment Rental – Kiloutou's presence in the equipment rental market highlights its operational sector, providing equipment solutions across Europe.
Financials
- €550 Million – The total amount raised through the issuance of senior secured notes by Kiloutou.
- €400 Million – Aggregate principal amount of 5.0% senior secured notes due 2031.
- €150 Million – Aggregate principal amount of additional senior secured floating rate notes due 2030.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kiloutou | Target Company | Company | A leading equipment rental provider in Europe, and the target of the refinancing deal. |
| Paul Hastings LLP | Legal Advisor | Company | An elite law firm advising on corporate finance, recognized for its expertise in finance and private equity. |
| HLD | Owner | Company | A private equity firm, part owner of Kiloutou. |
| Dentressangle | Owner | Company | A private equity firm, part owner of Kiloutou. |