UK:
Milbank Advises Together Mortgages On Its £350M Senior PIK Toggle Notes Offering
03 October 2018
Milbank LLP
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Milbank, Tweed, Hadley & McCloy LLP has advised Bracken
Midco1 plc (the "Issuer") on the offering of its
£350 million aggregate principal amount of 8⅞% /
10⅜% Senior PIK Toggle Notes due 2023.
The proceeds from the offering have been used, among other
things, to refinance the Issuer's Senior PIK Toggle Notes due
2021 issued in November 2016, to provide its shareholder with the
funds required to redeem its outstanding loan notes and to make a
distribution to its shareholder.
Together is a specialist UK finance provider offering a wide
range of specifically designed products, including short-term
finance, auction finance, residential, buy-to-let and commercial
mortgages and secured loans through its established distribution
network.
The Milbank team was led by London Leveraged Finance/Capital
Markets partner Rebecca Marques, with special counsel Ana Grbec and
associates Kenneth Ryan and Darell Hayes. The team also included
New York Tax partner Andrew Walker and associate Archan Hazra,
London Leveraged Finance associates Danielle Brown and Joseph
Richmond, New York Alternative Investments Practice partner
Catherine Leef Martin and associate Megha Kalbag and London
Corporate associate Cormac Kerins.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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