White & Case LLP, a leading global law firm, has provided counsel to the ad hoc group of bondholders in the negotiation and execution of an Agreement in Principle for the financial restructuring of Solocal Group, a prominent French digital marketing firm.
The Agreement in Principle, inked on April 12, 2024, involves Solocal Group, Ycor, and a consortium of lenders representing a significant portion of the Revolving Credit Facility (RCF). Aimed at reducing Solocal Group’s debt burden and enhancing its financial stability, the agreement primarily entails an equity injection, including capital infusions from Ycor and the transfer of shares from Regicom Webformance SAS to Solocal Group.
Upon completion, the restructuring will result in a substantial reduction in Solocal Group’s bond debt by approximately 85%, alongside the repayment of a portion of the RCF debt. Ultimately, Ycor will assume control of Solocal Group upon the fulfillment of the agreement’s conditions. 
The transaction was shepherded by White & Case’s Paris team, led by partners Saam Golshani, Hugues Racovski, and Alicia Bali, with support from associate Ophélie Clain.
