Milbank Advises on International Design Group S.p.A.’s High Yield Bond Offering and Refinancing

Milbank LLP represented the initial purchasers and lenders in connection with the offering by International Design Group S.p.A. (“IDG”) of €425 million in aggregate principal amount of senior secured notes due 2028 and the amendment, maturity extension and upsize of its existing revolving credit facility.

The proceeds from the offering are expected to be used to refinance IDG’s €400 million senior secured notes due 2025 and repay certain amounts drawn under the existing revolving credit facility.

IDG is a global leader in high-end design, designing, producing, distributing and selling luxury lighting and furniture products. IDG is jointly owned by the global investment firms Investindustrial and Carlyle.

The Milbank team was led by Capital Markets partners Apostolos Gkoutzinis, Rebecca Marques and Randy Nahle, and associates Stefanos Serfas and Panos Tsezos. European Leveraged Finance partner Suhrud Mehta, special counsel Tristram Gargent, associate Simeon-Henri de Vries and trainee Annis Easton advised on the amendment, maturity extension and upsize of the revolving credit facility. The team also had assistance from Tax partner Andrew Walker and associate Anne-Sophie Tomé.