Herbert Smith Freehills Advised WH Smith PLC On £200 Million USPP Issuance

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

In including longer periods of delayed closings – a rare occurrence in the USPP market – the deal is unique.

Herbert Smith Freehills (HSF) has advised WH Smith PLC (WHSmith) on the successful completion of a £200 million issue of US Private Placement (USPP) notes, indicating the company's entry in the USPP market. WHSmith is a leading global travel retailer with more than 1,200 stores across the globe, mainly at airports.

Issued on investment-grade terms, the USPP notes have varying maturities. In including longer periods of delayed closings – a rare occurrence in the USPP market – the deal is unique.

Partner Gabrielle Wong led the HSF team supported by senior associate Chelsea Fish and associate Meenakshi Kurpad. Advice on the English law aspects was provided by global co-head of finance Kristen Roberts, counsel Stacey Pang and associate Sue Lee. Advice on the Australian law aspects was provided by partner Andrew Booth, senior associate Andrew Julian and solicitor Corey Michailidis.

Partner Gabrielle Wong reportedly said, "We are proud to have advised WHSmith 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," Wong reportedly said.

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