BNP Paribas completes three-year total return equity swap agreement with JAB Holdings N.V.

Client(s) BNP Paribas

Jones Day advised BNP Paribas in connection with a three-year total return equity swap agreement with JAB Holdings N.V. (JAB Holdings) for up to 6.5 million shares of Krispy Kreme, Inc., one of JAB Holdings' portfolio companies. Under the terms of the transaction, BNP will acquire shares in the open market and pay JAB Holdings the difference from any positive share price performance, and JAB will pay BNP the difference from any negative share price performance.