Herbert Smith Freehills advises WH Smith PLC on £200 million USPP issuance

Leading international law firm Herbert Smith Freehills has advised WH Smith PLC (WHSmith) on the successful completion of a £200 million issue of US Private Placement (USPP) notes, marking the company's debut in the USPP market.

WHSmith is a leading global travel retailer with over 1,200 stores across the globe, primarily in airports. 

The USPP notes have varying maturities and were issued on investment-grade terms. The deal is unique as it includes longer periods of delayed closings, which is rare in the USPP market. 

The Herbert Smith Freehills team was led by partner Gabrielle Wong, supported by senior associate Chelsea Fish and associate Meenakshi Kurpad. Global co-head of Finance Kristen Roberts, of counsel Stacey Pang and associate Sue Lee advised on English law aspects. Partner Andrew Booth, senior associate Andrew Julian and solicitor Corey Michailidis advised on Australian law aspects.

Partner Gabrielle Wong commented, "We are proud to have advised WH Smith PLC on its entry into the USPP market and congratulate the company on a very successful transaction."

"This deal showcases our deep knowledge of the USPP market, advising on novel situations, and our ability to draw upon our cross-border offerings. It also captures the synergies we can offer across our finance and M&A capabilities."