Paul E. Lombard

Partner

Paris
Willkie Farr & Gallagher LLP
21-23 rue de la Ville l'Evêque
75008 Paris
T +33 1 53 43 4671
F +33 1 40 06 9606
plombardwillkie.com

Paul E. Lombard is a partner in the Corporate and Financial Services Department heading the acquisition and corporate finance team in Paris.  He focuses primarily on acquisition leverage finance and he has particular experience in the integration of innovative financing technology (such as PIK financing and Unirate bonds) into the capital structure. His other focus is debt restructuring and he is also regularly involved in matters in the syndicated loan market and the real estate financing market.

Paul is fluent in English and French. 

Highlights

Paul E. Lombard is a partner in the Corporate and Financial Services Department heading the acquisition and corporate finance team in Paris.  He focuses primarily on acquisition leverage finance and he has particular experience in the integration of innovative financing technology (such as PIK financing and Unirate bonds) into the capital structure. His other focus is debt restructuring and he is also regularly involved in matters in the syndicated loan market and the real estate financing market.

Paul is fluent in English and French. 

Selected Significant Matters

Paul’s significant matters in acquisition leverage finance and debt restructuring include advising:

  • Eurazeo on the financing aspects of its CHF 380 million acquisition of Glion Institute of Higher Education and Les Roches International School of Hotel Management (June 2016)
  • Tikehau on the financing aspects of the acquisition of Cisbio Bioassays by Abenex (June 2016)
  • Feu Vert and its majority shareholder, Qualium Investissement, in Feu Vert’s €250 million refinancing (March 2015)
  • Essilor with regards to a new loan facility (December 2014)
  • European Capital and Tikehau in the context of the acquisition by Asmodée, a participation of Eurazéo, of Fantasy Flight Games and Days of Wonder (July 2014 and December 2014)
  • Ardian Private Debt on a unitranche financing of the acquisition by Européene des Dessert, a participation of Equistone, of Handmade Cake Company (November 2014)
  • The lenders on the financing aspects of Vivarte's restructuring (October 2014)
  • PAI Partners in the acquisition of DomusVI (September 2014)
  • Homair of the financing aspects of the acquisition of Eurocamp (September 2014)
  • IK Investment Partners and Solina SFINC with regards to a new loan facility (July 2014)
  • Carlyle and Sagemcom with regards to a new loan facility (July 2014 and September 2014)
  • PAI Partners on the financing aspects of the acquisition of Labeyrie Fine Foods (July 2014)
  • Ardian Private Debt on the PIK financing of the acquisition by Temasek and others of Ceva Santé Animale (June 2014)
  • The lenders on the financing aspects of the acquisition of Biscuits Poults by Qualium (June 2014)
  • Yoplait with regards to a new loan facility and a USPP financing (June 2014)
  • NXMH in relation to the financing aspects of the acquisition of the Stokke AS group (January 2014)
  • European Capital and Tikheau on the financing aspects of the acquisition by Eurazeo of Asmodée (January 2014)
  • Centerbridge Partners and Angelo Gordon in the financing aspects of the acquisition of Frans Bonhomme (January 2014)
  • Ardian (f/k/a Axa Private Debt) on the financing aspects of the acquisition by Equistone of Europeenne des Desserts (November 2013)
  • Essilor in the context of a syndicated acquisition facility and a Syndicated revolver facility refinancing its existing back up facility together with bilateral facilities (November 2013 and July 2013 respectively)
  • CMA CGM and other member of the CMA CCGM group in the context of a new securitization program (October 2013)
  • Macquarie and other exiting shareholders in the sale of Rossignol to Altor and the financing aspect thereof (October 2013)
  • Meriguet Group’s founders and management in the investment made by Qualium Investissement and the related financing (July 2013)
  • The Consolis Mezzanine Lenders in the restructuring of the company (May 2013)
  • PAI partners on the financing aspects of the acquisition of ADB Airfield Solution, a group active in the airfield industry operated from Belgium, the US, South Africa and China (May 2013)
  • IK Partners in the refinancing of Unipex (March 2013)
  • Axa Private Debt on Unitranche debt aspects for the acquisition of th IPH Group by PAI partners (February 2013)
  • AXA Private Equity in its additional €100 million financing to support the development of Ceva Santé Animale, a global veterinary health company (October 2012)
  • The Bonduelle Group in its 5-year, €300m revolving credit facility (July 2012)
  • Yoplait, together with General Mills Inc and Sodiaal, in connection to a €300m refinancing (December 2011)
  • IK in connection to a senior credit agreement and a mezzanine agreement made available for the acquisition of the Savena Group (July 2011) as well as with the supplemental agreements thereof for the acquisition of the Sfinc Group by the Savena Group (December 2011)
  • Eurofideme in connection to a bond financing made available to Vol-V to make photovoltaic acquisition and project development (December 2011)
  • Gilde Buy Out Partners in connection to the restructuring of the Novasep bonds (December 2011)
  • Ipsos and its reference shareholder, LT Participations, on all debt financing aspects of its €595 million acquisition of the market research unit (Synovate) of Aegis group plc (October 2011)
  • Compagnie Daher SA in connection to a €120m refinancing (July 2011)
  • Axa Mezzanine in connection to mezzanine bond financing made available to Abénex for the acquisition of the Vulcanic Group
  • Apax Partners in connection to a senior credit agreement and a mezzanine agreement made available for the acquisition of the Amplitude group (June 2011)
  • Yoplait in the financing structure that led to its acquisition of Liberté (December 2010) as well as in the waiver process in connection with the acquisition of a stake in its share capital by General Mills Inc (July 2011)
  • Groupe Partouche in connection with the restructuring of its bank debt and the investment of Butler Capital Partners in its share capital (January 2011)
  • CMA-CGM in connection with the restructuring of its bank debt (March 2011)
  • Calyon, as agent and arranger, and the other arrangers in connection to a refinancing provided for Converteam, controlled by Barclays PE and LBO France (June 2010)
  • Zodiac Marine and Pool, as well as Carlyle, in connection to a €1.1 billion senior credit agreement and a €150 million mezzanine d agreement made available for the acquisition of the Zodiac Marine and Pool group, the transfer of ING's participation to Carlyle (December 2009), and the debt restructuring of the group (May 2010)
  • MezzVest and SVP in forming the Mezzanine Steering Committee in the debt restructuring of Deutsch Connector (sponsor: Wendel) (April 2010)
  • Apax Partners in connection with the financing of Marken (January 2010)
  • Ypso France (Numéricable), as well as Carlyle, Cinven and Altice, in connection to a waiver and amendment to a €3.225 billon senior credit agreement (December 2009)
  • EuroMezzanine in connection to senior and junior mezzanine bonds (€45 million each) issued in the context of the acquisition by Groupe TFN of VPNM and Eurogem (July 2009)
  • Calyon as arranger in connection to a refinancing for Compagnie de Saint Gobain (July 2009)
  • The arrangers in connection to a refinancing for Yoplait (controlled by PAI partners and Sodial) in the context of the acquisition of Yoplait Dairy Crest (March 2009)
  • PAI partners and Financière Daunou 9 in connection to a €2.07 billon senior credit agreement established for the acquisition of Monier; advised Monier in connection to its subsequent debt restructuring
  • PAI partners in connection to a recapitalization and an amendment of the debt documentation of Perstorp (September 2008)
  • PAI partners in connection to the financing established for the acquisition of a minority stake in Atos (January 2008)
  • Calyon as arranger in connection to the financing provided to Compagnie de Saint Gobain for the acquisition of Maxit (October 2007)
  • Bank of Ireland as arranger in connection to a recapitalization of the financing for CEP (controlled by PAI partners) (September 2007)
  • The arrangers in connection to the financing provided to Compagnie des Alpes for the acquisition of Val d’Isère and other ski resorts (May 2007)
  • PAI partners in connection to the financing established for the acquisition of SPIE (2006)

Paul's significant matters in real estate financing include advising:

  • WestImmo and PBB in connection to the €170 million refinancing of an asset portfolio for EPL (a fund managed by BNP Paribas Real Estate Investment) (December 2009)
  • WestImmo, Helaba and PostBank in connection to the €140 million financing of the acquisition of 3 Quartiers by Macquarie (April 2009)
  • SITQ (Caisse de dépôt et placement du Québec) in connection to the €400 million refinancing of T1 and B tower in la Défense (December 2008)
  • Eurohypo as arranger in connection to a €73 million financing of the acquisition and development of a pan European logistics programme (April 2007)

Prior Experience

Paul was previously a senior associate at Allen & Overy LLP in Paris (2001 - 2010), having spent some time in the firm’s London office.

Selected Publications and Lectures

Paul's recent publications include:

  • "Le marché du financement : vers une réouverture durable ou un effet de ciseau ?" (The financing market, towards a reopening or a scissor effect?) in Magazine des Affaires, January - February 2011
  • "La Loi de sauvegarde: une chance pour l'entreprise, un risque pour les créanciers" (Safeguard: a corporate opportunity, a threat for the creditors) in Revue Banque January 2010, co-authored with Julien Roux
  • "Réforme de la sauvegarde: le nouveau dispositif sera-t-il plus efficace?" (Implementation of Safeguard: will the revised proceeding work better?) in JCPE Edition Entreprises et Affaires, N°15, 9 April 2009, co- authored with Sabah Boughiba