Dufry $1.2 billion notes offering
Davis Polk advised Dufry One B.V., a wholly owned subsidiary of Dufry AG, as issuer, and Dufry AG and certain of its wholly owned subsidiaries, as guarantors (together with the issuer, “Dufry”), in connection with a Regulation S high-yield debt offering of €725 million aggregate principal amount of 3.375% senior notes due 2028 and CHF 300 million aggregate principal amount of 3.625% senior notes due 2026. The notes are expected to be listed on The International Stock Exchange.
Based in Basel, Switzerland, Dufry is a leading global travel retailer operating over 2,300 duty-free and duty-paid shops in airports, cruise lines, seaports, railway stations and downtown tourist areas.
The Davis Polk corporate team included partner John B. Meade and associates Paula Querol, Clare Conroy, Stephen A. Byeff and David Giron. Members of the Davis Polk team are based in the New York and Madrid offices.