Stonegate’s £150 Million Senior Secured Notes Offering


Simpson Thacher represented Stonegate Pub Company Financing plc, a wholly owned subsidiary of Stonegate Pub Company Limited (“Stonegate”), a TDR portfolio company, in connection with a Rule 144A and Regulation S offering of £150 million in aggregate principal amount of its new Floating Rate Senior Secured Notes due 2022. The transaction closed on February 4, 2019.

Stonegate used the net proceeds from this offering primarily to refinance its existing bridge facility, which was used to finance certain acquisitions, and to raise financing for certain planned acquisitions and capital expenditures.

Stonegate is one of the largest managed pub companies in the United Kingdom.

The Simpson Thacher team included Nick Shaw (Picture), Uma Sud, Rainer Adlhart and Surya Bala (Capital Markets); Stephen Short, Alexander Volsky and George Dyesmith (Credit); and Robert Holo, Meredith Jones and Kelli Rivers (Tax).

Involved fees earner: Rainer Adlhart – Simpson Thacher & Bartlett; Surya Bala – Simpson Thacher & Bartlett; George Dyesmith – Simpson Thacher & Bartlett; Robert Holo – Simpson Thacher & Bartlett; Meredith Jones – Simpson Thacher & Bartlett; Kelli Rivers – Simpson Thacher & Bartlett; Nicholas Shaw – Simpson Thacher & Bartlett; Stephen Short – Simpson Thacher & Bartlett; Uma Sud – Simpson Thacher & Bartlett; Alexander Volsky – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Stonegate Pub Company;