On 4 June 2015, Exeltium, which buys electricity and sells it to 27 electro-intensive industrial clients who are also its shareholders, refinanced 1.435 billion euros of its senior debt in one of the largest power deals in Europe this year. It involved 11 financial institutions and several major institutional investors, and enabled Exeltium to extend the maturity of its debt.
As part of its senior debt refinancing plan, Exeltium repaid 80 million euros of its junior bond debt held by the Caisse des Dépôts et Consignations, and obtained that it extend the maturity of its bonds to support the senior refinancing.
Exeltium was assisted on projects aspects by Gide, with Michel Guénaire (partner), Sylvain Bergès (counsel) and Sarah Becker (associate). Axelle Toulemonde (partner), Ghita Bourquouquou and Juliette de Waele (associates) worked on the corporate aspects. Laetitia Lemercier (counsel) and Mathilde Bonnet (associate) assisted on the financing aspects. Stéphane Hautbourg (partner) and Sophie Quesson (counsel) worked on the competition aspects.
Exeltium was assisted on financing aspects by Willkie Farr & Gallagher LLP, with Amir Jahanguiri (partner), Michael Armandou (counsel) and Roy Charles Bates (associate).