Fabrice Grillo

Profil Fabrice Grillo

Avocat à la Cour, Fabrice is a debt finance partner in our global transactions group in Paris. He is a member of our financial institutions and our private capital sector groups and a relationship partner for key clients within these areas of business

He has a deep knowledge of banking, private debt and structured finance, and advises major financial institutions, multinational corporates and financial sponsors on issues within these practice areas.

Fabrice has significant expertise in strategic advisory and capital solutions helping clients in defining their liquidity strategy and access to debt financing whether in the context of complex acquisitions, refinancings or distressed credit situations.

His understanding of the commercial constraints under which his clients operate, ensures pragmatic, innovative and realistic advice.

Mandate

Recent work of Fabrice includes advising: 

Corporate & acquisition finance

• Compagnie Générale des Etablissements Michelin SCA on the financing of its recommended all-cash offer for London-listed Fenner plc;
• Universal Music Group NV on the setting up of its NEUCP debt issuance programme;
• Auchan Holding SA on its inaugural Schuldschein loans issuance;
• EDF on the financing aspects of its purchase from GE Stream Power of nuclear activities;
• Getlink on all its financings including its PPA and high yield (green) bond issuance;
• A global energy and services group on the implementation of a EUR 2,5bn Revolving Credit Facility for general corporate purposes;
• SFL on the conversion of all its outstanding corporate bonds into green bonds as part of an overall liability management process initiated by Colonial;
• Tereos on its renegotiation of its convertible bonds;
• Segula Technologies on its various financings matters before and after Covid 19, including the acquisition of the German engineering activities from OPEL GmbH;
• GEFCO on all its financing matters from its purchase by RZD until its disposal to CMA CGM group.

 Infrastructure and real assets

• Ardian Infrastructures on its acquisition by TSE of a significant stake from Total and BP in Société du Pipeline Méditerranee Rhone (SPMR), the financing of such acquisition and its refinancing with ESG linked facilities arranged institutional investors;
• Ardian Infrastructures and EDF Invest on the acquisition by TSH of Géosel Manosque, the financing of such acquisition and its refinancing with ESG linked facilities arranged by institutional investors;
• DIF Capital Partners on the acquisition and the financing of a significant stake in Trapil from Total;
• DIF Capital Partners on its excusive negotiations with TDF and Banque des Territoires in relation to the proposed acquisition of the fibre business of the TDF Group;
• Phoenix Tower International, a portfolio company of Balckstone on its successive acquisitions of telecom tower business or assets in France, Ireland, Italy, Malta, Cyprus and the West Indies;
• Phoenix Tower International, a portfolio company of Blackstone on the corporate reorganisation of its European operations and the implementation of EUR 1.6bn European facilities arranged by Natixis and Deutsche Bank to refinance existing indebtedness and fund additional growth in Europe;
• AXA REIM France on the refinancing of its pan-European logistic portfolio and a RCF facility for its core logistic fund;
• EDF Group and Dalkia on the building, development and financing of a heating network for Lyon Metropole;
• Vinci Airport on the financing of its acquisition of several airports in Mexico.

  Restructuring

• A pool of banks in their negotiations with Areva SA in connection with the reimbursement of a EUR 1,250,000,000 revolving facility, the implementation of a new EUR 275,000,000 facility and the replacement of a bank performance guarantee granted in connection with OL3, being of the largest corporate restructuring in France in recent years;
• A group of creditors including Permira, Pemberton and Avenue Capital on the debt restructuring of Delsey SA and the conversion of various instruments into equity of the company resulting in a creditors’ led proceeding;
• Crédit Agricole Corporate and Investment Banking in relation to the restructuring of several commercial real estate loans held by Rivoli Pan Europe CMBS;
• BNP Paribas in relation to the restructuring of several commercial real estate loans.

 Structured finance

• PayPal on its USD 4bn Buy Now Pay Later sale transaction with KKR;
• CMA CGM on its USD 2.1bn freight securitisation involving France, Germany, US, Australia, Singapore and UK arranged by Credit Industriel et Commercial and ING Belgium SA/NV, being STS verified by STS Verification International;
• Compagnie Financière Michelin Suisse SA on its pan-European corporate securitisation involving France, Germany and Italy arranged by BNP Paribas;
• BNP Paribas and Orange SA on the first handset securitisations in France and in Poland.

M&A

• ABN Amro Bank NV on the reorganization of its banking activities in France;
• Air France on its joint venture with CMA CGM Air Cargo;
• Volkswagen and a consortium of investors on its take over Europcar Mobility Group;
• German group Cenonomy on the acquisition of a minority stake in Darty from Artémis;
• an international bank on the disposal of its retail banking activities in France.

ProBono work of Fabrice includes advising regularly Gustave Roussy, the leading cancer center in Europen and one of the top 3 cancer centers in the world, and its leadership team on the implementation of the 2030 strategic plan including the building of a new research center in the Paris area, several innovative projects for the creation and funding of new companies dedicated to drug discovery, improvement of patient care, tech and IA. Fabrice is a member of the board of GRT, the tech transfer company of Gustave Roussy for the valorization of research and development of precision medicine in oncology.