Bain Capital's hotel chain, Les Hôtels de Paris, receives advice from our law firm on their debt restructuring plan.
In a significant move, global law firm White & Case LLP has advised Bain Capital on the refinancing of Les Hôtels de Paris, a high-end hotel operator under the Machefert Group. The refinancing, amounting to approximately €135 million, was conducted as part of a combined restructuring plan approved by the Paris Commercial Court on 11 July 2025.
The restructuring plan, which includes both a reorganisation and an asset disposal plan, was designed to settle the company’s liabilities and support the group’s development. The refinancing was done through the issuance of super senior bonds, secured by a post-money privilege and a security package.
White & Case LLP played a pivotal role in structuring and advising on the refinancing deal. Their team, led by partners Saam Golshani and Hugues Racovski from Paris, provided comprehensive support, with members from various service areas including Mergers & Acquisitions, Private Capital, Debt Finance, Real Estate, Employment, Compensation & Benefits, Intellectual Property, Tax, Life Sciences and Healthcare, Capital Markets, Financial Restructuring and Insolvency, and Sports.
The team was supported by a large group of professionals spanning the firm's offices in Paris, Luxembourg, and Brussels. Notable members included Louis Gibon, Victor Menu, Adrien Ahmadi Kermanshahani, Grégoire Berger, Sid-Ahmed Chalane, Thibaut Alibert, Clément Bellaclas, Cécilia Grosjean, Olga Kosno, Claire Sardet, Corentin Traxel, Sophia Fotso, Arvine Nooralian, Anis Bendimred, Thomas Rousset, Arnaud Marquet, and Timothé Lefèvre.
In addition to advising on the refinancing, White & Case helped facilitate a concerting shareholders' agreement with the Machefert family, who are controlling shareholders of Les Hôtels de Paris. Local partner Ruslana Hrischeva, specialising in Debt Finance and Capital Markets, was involved in this aspect of the transaction.
Guilhèm Becvort, a member of the team, provided expertise in Tax and Investment Funds, while Thomas Glauden covered Mergers & Acquisitions, Financial Restructuring and Insolvency, and Private Capital, with a focus on Technology.
This refinancing marks a significant step forward for Les Hôtels de Paris and the Machefert Group, providing them with the financial resources to continue their growth and development in the competitive hospitality industry.
- White & Case LLP's team, comprising partners Saam Golshani and Hugues Racovski, advised Bain Capital on the €135 million refinancing of Les Hôtels de Paris.
- The refinancing was part of a restructuring plan, including mergers and acquisitions, private capital, debt finance, real estate, and other services.
- The plan was supported by professionals from White & Case's Paris, Luxembourg, and Brussels offices, including Louis Gibon, Victor Menu, and Thomas Rousset.
- Local partner Ruslana Hrischeva handled the concerting shareholders' agreement with the Machefert family, who are controlling shareholders of Les Hôtels de Paris.
- Guilhèm Becvort provided expertise in tax and investment funds, while Thomas Glauden focused on mergers & acquisitions, financial restructuring and insolvency, and private capital, with a focus on technology.
- This refinancing will provide Les Hôtels de Paris and the Machefert Group with the necessary capital to expand their business in the competitive hospitality industry.
- Intellectual property and employment, compensation & benefits practices within White & Case also lent their support to the refinancing deal.
- The refinancing deal involved the issuance of super senior bonds, secured by a post-money privilege and a security package.
- This significant move and the subsequent refinancing news are addition to the growing list of successful transactions handled by White & Case LLP in finance, litigation, and real-estate practice areas.
