Global law firm Freshfields has represented Getlink SE (“Getlink”) on its offering of €600 million senior secured green notes due 2030.  The notes successfully priced on March 27, 2025 and closed on April 4, 2025. The proceeds of the issuance were used by Getlink, together with cash on its balance sheet, to redeem its existing €850 million senior secured green notes due October 2025.

Getlink, through its subsidiary Eurotunnel, is the concession holder until 2086 for the Channel Tunnel infrastructure and operates Truck Shuttles and Passenger Shuttles (cars and coaches) between Folkestone (UK) and Calais (France). Since 31 December 2020 Eurotunnel has been developing the smart border to ensure that the Tunnel remains the fastest, most reliable, easiest and most environmentally friendly way to cross the Channel. Since it opened in 1994, more than 518 million people and 106 million vehicles have travelled through the Channel Tunnel. This unique land link, which carries a quarter of trade between the Continent and the United Kingdom, has become a vital link, reinforced by the ElecLink electricity interconnector installed in the Tunnel, which helps to balance energy needs between France and the United Kingdom.

The Freshfields team was led by leveraged finance and capital markets partner Haden Henderson and infrastructure finance partner Jenny McIvor, alongside senior associate, Katy Foxall, and associates Laura Hutchinson and Enzo Paganetti. French law matters were led by partners Guillemette Burgala and Fabrice Grillo, alongside counsel Aïleen Legré, and associates Samvel Der Arsenian, Aia Eid, Marwan Hammache and Lucas Cloarec.

The transaction represents another example of a market leading transaction by Freshfields’ cross-border capital markets team, which has an established reputation for providing strategic, commercial and practical guidance on the most challenging and complex bond offerings worldwide.