Iliad Holding S.A.S.’s High‑Yield Senior Secured Notes Offering

Cravath represented the initial purchasers in connection with the €600 million and $850 million 144A/Reg. S high‑yield senior secured notes offering of Iliad Holding S.A.S. (“Iliad”), a leading European telecommunications provider. The notes were listed on The International Stock Exchange. The transaction closed on December 3, 2024.

The Cravath team included partners Philip J. Boeckman and Philip Stopford and associates Luke A. Martin, Mayssa Khattar, Katherine McAlinden and Iain Sneddon on capital markets matters; partner Andrew T. Davis and associates Jessica Shung and Frederick Schemel on tax matters; partner Matthew Morreale and associate Star S. Gulant on environmental matters; and practice area attorney David Crampton and foreign associate attorney Andreas Kaletsch on executive compensation and benefits matters. Mark E. Sfreddo also worked on capital markets matters.