Milbank Advises on EVOCA S.p.A.’s High Yield Bond Offering and Refinancing

Milbank LLP represented the initial purchasers and lenders in connection with the offering by EVOCA S.p.A. (“Evoca”) of €550 million in aggregate principal amount of senior secured floating rate notes due 2029 and the maturity extension of its existing revolving credit facility.

The proceeds from the offering are expected to be used to refinance the issuer’s outstanding €550 million senior secured floating rate notes due 2026.

Evoca is a leading pure-play manufacturer of professional coffee and vending machines, combining an extensive product range and iconic brand portfolio to serve out-of-home locations in over 135 countries worldwide, with a primary focus on Europe. Evoca is indirectly owned by a fund organized by Lone Star.

The Milbank team was led by European Leveraged Finance/Capital Markets partners Rebecca Marques, Laura Bonamis, Suhrud Mehta, Apostolos Gkoutzinis and associates Vasujith Ram, Rishi Ray, Bie Cookey, Andrew Mavers and Federica Venegoni. The team also had assistance from Tax partner Eschi Rahimi-Laridjani, special counsel Craig Cohen and associate Seth Moreida.