Herbert Smith Freehills Kramer advises Petit Forestier Group on its debut USPP financing

Leading global law firm Herbert Smith Freehills Kramer has advised Petit Forestier Group, a leading global player in refrigerated vehicle leasing and rental, on the implementation of its first US Private Placement (USPP) financing for a total amount of US$627 million (c. £469 million) equivalent.

The success of this issue allowed the Group to broaden its investor base and access new financial players, including American investors and insurers.

This financing, which has a maturity of between four and seven years, will enable the Group to continue its development around its historical core business: refrigerated leasing and rental. The funds raised will help support its growth, strengthen its international presence, and support investments related to its fleet and infrastructure.

The Herbert Smith Freehills Kramer team was led by partner Gabrielle Wong supported by of counsel Monsiree Jirasarunya and associate Meenakshi Kurpad. Partner Louis de Longeaux advised on French law aspects and was supported by senior associate Dylan Shields and associate Jade Porret. The firm provided seamless cross-jurisdictional support across its London, Paris, Madrid and Milan offices.

Partners Gabrielle Wong and Louis de Longeaux commented: "We are delighted to have advised Petit Forestier Group on its inaugural USPP financing, a landmark transaction that marks an important step in the Group’s long-term financing strategy. The transaction attracted strong demand from international institutional investors and significantly broadened the Group’s access to US and global capital. This highlights the strategic value of the USPP market in providing issuers with deep, diversified and long-term funding solutions, and reflects our strong track record in advising on complex, cross-border USPP transactions."

The firm has a strong track record of advising on USPP financing, including advising WH Smith PLC on its £200 million USPP issuance, Tideway on its green USPP, Safran on its €566 million USPP, and Mersen on its USPP.