Luther Drives Deal: Advises Financing Sources on Empark's €300 Million Senior Secured Notes Offering

Luther advised the financing sources on Luxembourg law matters in connection with Empark's successful €300 million senior secured floating rate notes offering. Empark, known commercially as Telpark, is a major player in the Iberian car parking market.

The funds raised will be used to redeem Empark's outstanding floating rate senior secured notes due in 2030, as well as to fund a dividend. As part of the transaction, Luther also advised on an amendment and restatement of Empark's existing revolving credit facility, which increased the committed amount by €25 million to €125 million and extended the facility's maturity.