Taylor Wessing Advises Vivion Investments on €757.5 Million Strategic Refinancing

Taylor Wessing represented Vivion Investments S.a.r.l. in a strategic refinancing transaction totaling €757.5 million. The transaction comprised the successful issuance of €505 million senior secured notes due 2030 and €252.5 million undated subordinated notes with a first reset date in 2031. The new notes were placed with institutional investors and admitted to trading on the Global Exchange Market of Euronext Dublin. Proceeds from the issuance were applied to a partial early redemption of senior secured notes previously issued by Vivion in 2023, and the new senior notes carry a lower coupon than the 2023 notes, reducing the company’s cost of debt. The undated subordinated notes will be accounted for as 100% equity under IFRS and will receive 50% equity content under S&P’s methodology. For Vivion, the refinancing is a strategic step to optimise capital structure, enhance financial flexibility and extend the maturity profile of its indebtedness. The transaction was settled on 8 December 2025. Taylor Wessing represented Vivion Investments S.a.r.l. with a team composed by: partner Marc-Oliver Kurth (Berlin/Frankfurt); salary partner Dr. Christian Koehler (Berlin/Frankfurt); and senior associate Pascal Wrusch (Berlin).

Taylor Wessing Advises Vivion Investments on €757.5 Million Strategic Refinancing

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