Thomas Smith is an English-qualified partner in the Finance Department of the London office. Recommended by Chambers UK (2019), The Legal 500 UK (2018) ...
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Leveraged and General Financing
- Resolution Life in the financing aspects of its AUS$3.3 billion acquisition of AMP Life in Australia and New Zealand.
- Clayton, Dubilier & Rice in the financing aspects of various acquisitions as well as refinancings, repricings, recapitalisations and bids, including BUT (in a partnership transaction with WM Holding, a company related to the XXXLutz Group), SPIE, Motor Fuel Group, Mauser Group, B&M Retail, Exova and BCA.
- Clayton, Dubilier & Rice and various portfolio companies, including B&M Retail, SPIE and Exova, in the financing aspects of their initial public offering.
- The purchasers of first lien senior secured notes privately placed by an Italian based manufacturer of coffee, other hot and cold beverage and food vending machines to finance an acquisition.
- Sacturino in its $5.5 billion loan facility for its take-private acquisition of Polyus Gold (valuing the company at approximately $9 billion).
- Kelso & Company in the financing aspects of its acquisition of US LBM Holdings (a building products distributor) from BlackEagle Partners.
- US LBM in the issuance of incremental borrowings under its term loan and ABL revolving facilities for the purpose of material acquisitions.
- Oaktree Capital Management in the finance aspects of its restructuring of its investment in Viken, a distressed Norwegian shipping group.
- Rank Group in the financing aspects of its acquisition of the SIG Group, a Swiss-based packaging company. The financing consisted of senior facilities of €825 million in aggregate, a subordinated bridge facility of €770 million and a €900 million high-yield bond facility.
- Reynolds Group in the financing aspects of its acquisition of Reynolds Consumer Products and Closure Systems International and associated financings and refinancings, a group of transactions valued at $3.2 billion.
- UCI in its up to $125 million senior secured asset-based revolving credit facility.
- A leading international asset manager in the restructuring by the Greek government of its sovereign debt.
- NLMK in its $1.6 billion pre-export credit facility.
- A Morgan Stanley-managed private equity fund in its $50 million NAV facility with Standard Chartered Bank.
- A leading European mid-market buyout fund in its £165 million subscription line facility.
- Capital call facilities for Tishman Speyer, Apera Capital, Leapfrog Investments, Fountainvest, Metric Capital Partners, VWH, Avanath, and multiple European, Asian and U.S. funds.
- A U.S.-based international infrastructure fund in its $1.5 billion syndicated hybrid facility secured by capital call rights and distributions from portfolio investments.
- A Glendower Capital secondary opportunities fund in its hybrid facility with a syndicate of lenders.
- A Morgan Stanley-managed private equity fund in its $70 million capital call facility with Bangkok Bank.
- A private equity fund managed by EQT in €3.23 billion of subscription line facilities with a club of fourteen lenders.
- Funds managed by EQT in multiple subscription line facilities, including an infrastructure fund in €1.2 billion of subscription facilities, a mid-market equity fund in €400 million of subscription facilities, a credit opportunities fund in €160 million of subscription facilities, a credit opportunities fund in €300 million of subscription facilities, a venture capital fund in €125 million of subscription facilities together with a separate FX facility, a European mid-market credit fund (structured to include a Luxembourg securitization vehicle) in €79 million of subscription facilities, and a European mid-market credit fund in €208 million of subscription facilities using an umbrella structure.
- Park Square in multiple subscription line facilities, including its €250 million subscription line facility with Wells Fargo, its $100 million subscription facility with Wells Fargo and SMBC, its $125 million subscription line facility with Wells Fargo and SMBC, and its €125 million subscription line facility with SMBC.
- Park Square in multiple SMA facilities, including its £30 million SMA facility with Wells Fargo and SMBC, its $100 million SMA facility with Wells Fargo and SMBC, and its $25 million SMA facility with SMBC.
- A secondary opportunities fund in its hybrid NAV/capital call facility of around $170 million, providing for a combination of term and revolving debt, among other things, to refinance an existing capital call facility.
- HarbourVest Partners in the financing aspects of its $806 million acquisition of Absolute Private Equity, a Swiss publicly-listed investment fund.
- Various TRS and repo financing transactions for funds managed by EQT.
High Yield Debt
- BUT in the issuance of €380 million 5.5% high yield bonds due 2024 in connection with Clayton, Dubilier & Rice’s acquisition (in a 50:50 partnership with WM Holding, a company related to the XXXLutz Group).
- SPIE in the issuance of €375 million 11% high yield bonds due 2019.
- Exova in its £155 million high-yield offering of 10.5% senior notes.
- Reynolds Group in the issuance by certain of its wholly owned subsidiaries of $1 billion of senior secured notes and $1 billion of unsecured notes and the subsequent refinancing of its senior secured credit facilities.
- Reynolds Group in the $3 billion senior secured and unsecured notes issuance and $2.02 billion term loan senior secured financing to finance its $6 billion acquisition of Pactiv.
- Nottingham Law School, 2003, L.P.C.
- Nottingham Law School, 2002, LL.B.