We advised Avolta on the high-yield notes offering and tender offer

Davis Polk advised Dufry One B.V., a wholly owned subsidiary of Avolta AG, as issuer, and Avolta AG and certain of its wholly owned subsidiaries, as guarantors (together with the issuer, “Avolta”), in connection with a Regulation S high-yield debt offering of €350 million aggregate principal amount of 5.250% senior notes due 2032. The notes are expected to be listed on The International Stock Exchange. Davis Polk also advised Dufry One B.V. in connection with its cash tender offer to purchase up to €350 million of its outstanding 2.000% senior notes due 2027, for which it received tenders in an aggregate principal amount of approximately €267 million.

Based in Basel, Switzerland, Avolta is a global travel experience player, operating close to 5,100 duty-free and duty-paid shops and restaurants in approximately 1,000 locations such as airports, cruise liners and ferries, seaports, motorways, railway stations and downtown tourist areas.

The Davis Polk corporate team included partner John B. Meade, counsel Christopher Diel and associate Caleb W. Martin. Members of the Davis Polk team are based in the New York and London offices.

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