Television and multimedia content international producer Banijay has chosen PJ Solomon to advise on the €2bn acquisition of Endemol Shine and Natixis to lead the financing. Endemol Shine is a €1.8bn sales a Dutch production company formerly owned by Apollo and Disney. Banijay is the subsidiary of Lov Group, managed and controlled by French entrepreneur Stephane Courbit.
In addition to PJ Solomon M&A advisory mandate, Natixis acted as global coordinator, active joint bookrunner on all tranches and B&D on the euro senior secured note, rating advisor and hedging bank for this financing worth a total of €2.378bn.
The multi-tranche and multi-currency (euros and dollars) transaction is composed of:
- three bond issues:
- €575m senior secured notes due 2025
- $403m senior secured notes due 2025
- €400m senior notes due 2026
- €869m-equiv. term loan B facilities (€453m and $460m)
- €170m multicurrency revolving credit facility
This operation, very well received by European and American investors, enabled this historic Natixis client to pursue its growth strategy and to become the world’s largest independent TV and subscription video on demand (SVoD) content producer in terms of revenue and content production, reinforcing the position of the group on this market.