About Fabrice Grillo

Avocat à la Cour, Fabrice is a 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 practice areas

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

Fabrice has significant expertise in corporate finance and treasury helping clients in defining their liquidity strategy and access to the debt market whether in the context of strategic acquisitions, refinancings or distressed credit situations.

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

Recent work

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 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 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 on the acquisition and the financing of a significant stake in Trapil from Total;
• Phoenix Tower International on its successive acquisitions of telecom tower business or assets in France, Ireland, Italy, Malta, Cyprus and the West Indies;
• Phoenix Tower International 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 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 1.3bn corporate securitisation involving France, Germany, US, Australia, Singapore and UK arranged by Credit Industriel et Commercial and ING Belgium SA/NV;
• 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 two successive handset securitisations in France and in Poland.

M&A

• HSBC Bank plc on the disposal of its retail banking activities in France to My Money Bank group which will become CCF;
• HSBC Continental Europe on the reorganization and transfer of the wealth management and private banking business to HSBC in Luxembourg;
• 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.

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.