Arrow Global Group’s €285 million senior secured floating rate notes and £100 million 5.125% senior secured notes offering


Slaughter and May, working as a team with Paul, Weiss, Rifkind, Wharton & Garrison LLP, advised Arrow Global Group plc, one of Europe’s leading purchasers and managers of debt, on the issue by Arrow Global Finance plc of €285 million senior secured floating rate notes due 2026 and £100 million 5.125% senior secured notes due 2024.

J.P. Morgan Securities plc and HSBC Bank plc acted as physical bookrunners and global coordinators for the issue, with ABN AMRO Bank N.V., DNB Markets, a division of DNB Bank ASA, The Royal Bank of Scotland plc (trading as NatWest Markets) and Lloyds Bank plc acting as co-managers. The notes are governed by New York law and will be listed on the Luxembourg Stock Exchange.

The net proceeds of the offering are proposed to be used towards the redemption of Arrow Global Finance plc’s outstanding €230 million senior secured floating rate notes due 2023, to repay part of Arrow Global’s revolving credit facility and for general corporate purposes.

Slaughter and May supported Arrow Global’s internal treasury team, led by Dan Hartley and Tom Dundas.

Slaughter and May acted on the deal with a Financing team led by Guy O’Keefe (partner, in picture), assisted by Brandon Ovington (associate) and Alexander Short (associate); on Regulatory matters acted Kilian McConnell (associate); and on Tax law advised Alicia Tan (associate).

Paul, Weiss, Rifkind, Wharton & Garrison LLP provided assistance with Mark Bergman (partner) and Lyudmila Bondarenko (associate).

Involved fees earner: Guy O’Keefe – Slaughter and May; Brandon Ovington – Slaughter and May; Alexander Short – Slaughter and May; Alicia Tan – Slaughter and May; Kilian McConnell – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Arrow Global Group;

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