Trevor K. Truman

Milbank LLP advised Public Power Corporation S.A. (“PPC”), a société anonyme incorporated under the laws of Greece, in connection with its offering of €600 million 4.625% senior notes due 2031. The proceeds from the offering will be used to fund ongoing expansion capital expenditure projects of PPC and its subsidiaries, and pay fees and expenses related to the offering. PPC is the leading Southeast European electric utility and a critical infrastructure player, operating mainly in Greece and Romania. In Greece, for more than 70 years, PPC has been at the forefront of the power industry and an integral part of the country’s process of electrification. PPC is the largest generator and supplier of electricity, providing electricity to approximately 5.6 million end-customers as of 30 June 2024. It also holds a 51% interest in Hellenic Electricity Distribution Network Operator S.A., the sole owner and operator of the electricity distribution network in the country. In Romania, PPC is the largest energy supplier and the second largest electricity distribution network operator, providing energy to approximately 3.2 million end-customers as of 30 June 2024. PPC is publicly listed, and its shares are traded on the Main Market of the Athens Exchange with a market capitalization of approximately €4.3 billion as of 30 June 2024. The Milbank team was led by European Leveraged Finance/Capital Markets partners Apostolos Gkoutzinis and Trevor Truman, and special counsel Varun Natteri Mangadu, with associates Chara Makrygianni and Alexia Pimbli, and law clerk Panos Maniatis. The team also included New York Tax partner Eschi Rahimi-Laridjani and associate Michelle Song.

Oct 31

1 min

Milbank LLP represented the initial purchasers in connection with CMA CGM S.A.’s tap offering of €200 million in aggregate principal amount of 5.500% senior notes due 2029. The proceeds of the offering are expected to be used for general corporate purposes. CMA is a French-based, leading global player in sea, land, air and logistics solutions. CMA offers services in over 160 countries through a global network of more than 425 offices, 900 warehouses and over 248 main lines calling at over 400 ports. The Milbank team was led by Corporate Finance and Securities partners Apostolos Gkoutzinis and Trevor Truman, and associates Stefanos Serfas and Harshil Bansal. The team also included New York Tax partner Eschi Rahimi-Laridjani, with special counsel Craig Cohen and associate Seth Moreida.

Oct 10

1 min

Milbank LLP advised the note purchasers in connection with the private placement by Borr IHC Limited, Borr Finance LLC and certain other subsidiaries of NYSE and Oslo Stock Exchange-listed Borr Drilling Limited (“Borr”) of approximately $180 million in aggregate principal amount of senior secured notes due 2030.  The proceeds from the offering are intended to be used for general corporate purposes, including the delivery and acquisition costs for a newbuild rig and costs in connection with the activation of this rig. Borr is an international shallow-water drilling contractor providing worldwide offshore drilling services to the oil and gas exploration and production industry through the ownership and operation of jack-up rigs of modern and high-specification, the provision of related equipment, and work crews to conduct oil and gas drilling and workover operations. The Milbank team was led by Corporate Finance and Securities partners Apostolos Gkoutzinis and Trevor Truman and associate Manel Mostefaoui.

Nov 18

1 min

Milbank LLP advised Metlen Energy & Metals S.A. (formerly known as Mytilineos S.A.) (“Metlen”) in connection with its green bond offering of €750 million 4.00% senior notes due 2029. Metlen used the proceeds of the bonds to redeem in full its existing $500 million 2.50% senior notes due 2024, and intends to use the remaining proceeds for general corporate purposes and to pay fees and expenses related to the offering. An amount equivalent to the net proceeds of the offering will be used to finance or refinance eligible green projects in accordance with Metlen’s green finance framework. Founded in 1908 and headquartered in Athens, Metlen is a leading industrial company with internationally diverse assets and operations. Its shares are listed on the Athens Exchange with a market capitalization of more than €4.8 billion. The Milbank team was led by European Leveraged Finance / Capital Markets partners Apostolos Gkoutzinis and Trevor Truman, and associates Stefanos Serfas and Harshil Bansal. The team also included New York Tax partner Andrew Walker, with associate Blake Rocks.

Oct 22

1 min

Milbank LLP has advised the initial purchasers in connection with SIG plc’s (“SIG”) offering of €300 million 9¾% senior secured notes due 2029 (the “Offering”) and the lenders in connection with the amendment and extension of its £90 million revolving credit facility agreement. In connection with the transaction, Milbank also advised the dealer managers in respect of SIG’s tender offer for its outstanding €300 million 5¼% senior secured notes due 2026 (the “Tender Offer”). SIG used the net proceeds of the Offering for the settlement of the Tender Offer and for general corporate purposes. SIG is a publicly listed, leading supplier of specialist building products and solutions to trade customers across the United Kingdom, Ireland and mainland Europe, with strong market positions and brand recognition in its core markets as a specialist distributor of insulation and interiors products and as a merchant of roofing and exteriors products. The Milbank team was led by European Leveraged Finance/Capital Markets partners Apostolos Gkoutzinis and Trevor Truman, special counsel Tristram Gargent, associates Vasujith Ram, Harshil Bansal, Kui To Joshua Mo and Maxwell Short, Russell Feinman and trainee Archie Hunt. The team also had assistance from Tax partners Alan Rafferty and Andrew Walker, along with associates Liam Markham and Michelle Song.

Oct 29

1 min