CMA CGM’s €250 Million High Yield Bond Issuance


Shearman & Sterling represented BNP Paribas and HSBC as initial purchasers on CMA CGM’s €250 million issuance of 5.250% senior notes due 2025. The notes are being issued as additional notes under CMA CGM’s existing indenture governing its €500 million 5.250% senior notes due 2025 issued on October 24, 2017. The net proceeds of the offering, which closed on 9th November 2017, will be used to redeem existing indebtedness.

CMA CGM is one of the leading and most profitable providers of global container shipping services. In terms of capacity, CMA CGM is the third-largest provider of container shipping services in the world, offering its services through a global network of 292 lines, composed of 188 main lines and 104 short sea and feeder lines, calling at 382 ports in 161 countries.

The Shearman & Sterling team was led by partner Trevor Ingram and associates Arthur Ravignon and Bouchra Haji (all London – Capital Markets). Other Shearman & Sterling lawyers involved in the transaction were partners Hervé Letréguilly (Paris – Corporate) and Kristen Garry (Washington, DC – Tax); counsel Séverine de La Courtie (Paris – Capital Markets); and associates Adam Sternberg and Daniel Kachmar (New York – Tax).

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Source: Shearman & Sterling


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