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Clifford Chance advises the underwriters on €245 million intermediated tender offer and €750 million high yield bond issuance by the Dufry Group

9 December 2019

Clifford Chance advises the underwriters on €245 million intermediated tender offer and €750 million high yield bond issuance by the Dufry Group

International law firm Clifford Chance has advised ING N.V., London Branch, on its partial repurchase of Dufry Group's notes by means of an intermediated tender offer with a maximum aggregate amount of €245 million.

Clifford Chance has simultaneously advised the underwriters on the issuance of €750 million 2.00% Senior Notes due 2027 by the Dufry Group, which have been listed in the International Stock Exchange.

The Dufry Group is a leading global travel retailer headquartered in Switzerland.

The matter was led by capital markets partners Michael Dakin and Paul Deakins, senior associates Patrick Meson and Kathryn McArdle  and associates Kierra Jones and Kelly Frevele.

Commenting on the transaction, Michael Dakin said: "We were delighted to be involved in this transaction and to use our leading capital markets expertise to help deliver a successful outcome for Dufry and the underwriters."

This comes after the Clifford Chance High Yield team advised OCI N.V. on its $1,370 million (equivalent) high yield bond offering in October.