International consumer brand funding case study: Increasing credit facility to strengthen the financial flexibility of Rémy Cointreau

The challenge posed to Addleshaw Goddard was to help Rémy Cointreau to diversify its investor base and renegotiate terms for increased financial headroom.

At the time, the market had been affected by significant restructuring transactions. This heightened the diligence required by investors in relation to this major funding transaction.

We worked with the group’s financial advisors to help the group explore a variety of financing options, including U.S. and Euro Private Placements, Schuldschein, retail bonds, and private credit transactions. Together we identified a path that would not only attract a robust international investor base but also ensure long-term financial sustainability and additional contractual flexibility.

This included pioneering the structuring and documentation of retail bonds approved by the French Financial Markets Authority (Autorité des marchés financiers) and offered to retail investors in Belgium and Luxembourg - a first for both Rémy Cointreau and the French market.

Notwithstanding a challenging market, the transaction enabled Rémy Cointreau to successfully increase its credit facility from €100 million to €180 million. Coupled with the successful closure of the Euro PP private placement, this not only extended the maturity of Rémy Cointreau’s debt but also significantly enhanced its flexibility. These transactions have facilitated the group’s financial resilience and growth.