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Freshfields advises Auchan on its €256.5 million debut Schuldschein placement

Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised the French retail and distribution group Auchan and Auchan Holding on its inaugural Schuldschein (privately placed debt governed by German law) on the raising of over €256.5m of capital from international institutional investors. The Schuldschein placement comprises one fixed interest rate tranche with maturity of 3 years and three floating interest rate tranches with maturities of 3, 5 and 7 years.
This is the first ever Schuldschein transaction for Auchan group, with marketing of the Schuldschein loans having been launched in the midst of the Covid-19 crisis following the success of Auchan’s bond issuance this April. The group now has access to a new category of investors and is diversifying its sources of financing.
The Schuldschein placement for Auchan Holding has been arranged by Commerzbank, Société Générale and UniCredit.
The Freshfields multijurisdictional legal team advising Auchan Holding was led by partners Fabrice Grillo, in Paris and Mario Hüther, in Frankfurt am Main with support from associates Andreas Thümmler (Frankfurt am Main) and Benjamin Cartier (Paris).
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About Freshfields Bruckhaus Deringer LLP
Freshfields Bruckhaus Deringer LLP is a global law firm with a long track record of successfully advising the world's leading national and multinational corporations and financial institutions on groundbreaking and business-critical challenges. Our team of more than 2,800 lawyers and other legal professionals delivers global results from our 27 offices worldwide. Our commitment, local and multinational expertise and business know-how means our clients can rely on us when it matters most.