Ogier advises WH Smith in £327 million bond offering

Ogier has advised well-known high street retailer WH Smith on a bond offering that will allow the retailer to finance the opening of 100 new stores in North America and to partially pay down existing term loans.

The Ogier team, led by partner Raulin Amy and supported by managing associate Alexander Curry and paralegal Lara Morand, acted as Jersey legal counsel in relation to WH Smith's £327 million offering of sterling-denominated convertible bonds. This bond offering will also help provide balance sheet capacity and flexibility.

The offering was carried out through an accelerated bookbuild process using a cash box structure, using a Jersey subsidiary established by Ogier working alongside Ogier Global, who provided corporate administration services.

Raulin said: "Over the years, Ogier has advised on more cash boxes than any other firm and, working with Ogier Global, we were delighted to bring our experience and expertise to assist WH Smith with financing for its new American stores."

Allen & Overy acted for the joint global coordinators and bookrunners and Herbert Smith Freehills LLP acted for WH Smith.