Linklaters advises on duo of high-profile bond offerings, raising over €2bn

Linklaters is pleased to have advised on a duo of high profile corporate bond offerings by Harbour Energy and TAP Air Portugal.

We advised the initial purchasers on a landmark €1.6 billion offering of senior notes by Wintershall Dea Finance B.V. The proceeds from the offering were used to refinance the bridge loan that was put in place to support the acquisition by Harbour Energy PLC of Windershall Dea AG's upstream asset portfolio, which was completed earlier in September 2024.

The firm also recently advised TAP Air Portugal, Portugal’s state-owned flag carrier airline and the leading Portuguese airline, in its offering of €400 million senior high-yield notes. The notes were issued in October 2024 to refinance TAP’s existing notes due 2024 and other existing debt.

The cross-jurisdictional Linklaters team advising on the Harbour Energy’s offering was led by partner Giacomo Reali, alongside partner Ben Dulieu, and included US associates Anu Akinbamidele, Kimberly Martin and Filippo Turci. Partner Toby Grimstone and managing associate Danny Yin advised on banking matters. A team led by Amsterdam capital markets partner Alexander Harmse advised on Dutch law matters.

TAP Air Portugal was assisted by a cross-jurisdictional Linklaters team led by partners Luis Roth, António Soares, Vera Ferreira de Lima and Christianne Williams, and included counsel James Simpson and US associates José Aleman and Dami Banire and Lisbon associate Rita Albuquerque.

A team in London and New York, led by US counsel Omer Harel, advised on tax matters related to both transactions.