Practice

Leveraged and Acquisition Finance

Responding to competitive tensions and regulatory challenges, the leveraged finance market is constantly evolving. Direct lending also continues to grow. The leveraged finance team at Hogan Lovells has extensive experience advising bilateral and syndicates/clubs of lenders around the world on senior and subordinated...

Representative experience

HNA Group on its circa €1.5bn debt and equity financing relating to its acquisition of Swissport.

Regal Cinemas Corporation on the US$1.05bn refinancing of its existing revolving credit and term loan facilities.

Advising Intermediate Capital Group on the first ever Australian dollar denominated and Australian law governed Term Loan B facility for Iron Mountain's acquisition of Recall Australia.

Advising the senior lender group on the financing for the acquisition of the Abbey Life insurance business by Phoenix Group.

Hogan Lovells Publications

Collaboration between debt funds and banks in European mid-market leveraged financings Lev Fin Spin

In the 10 years since the financial crisis debt funds have become a very significant source of liquidity in the European loans market. This is particularly the case in mid-market leveraged...

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Publications

FATCA tweaks kick "Passthru" withholding back to the future Lev Fin Spin

Those of us who regularly review debt facilities have probably noticed that the prospective (earliest) application date for FATCA withholding on "gross proceeds” from sales or other...

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Media Mention

White hot levfin market faces intense 2019 Global Capital

Partner Paul Mullen was quoted in a Global Capital article entitled "White hot levfin market faces intense 2019".

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Media Mention

Borrowers manipulating EBITDA to avoid covenant breaches IFLR

Paul Mullen was quoted in an IFLR article entitled "Borrowers manipulating EBITDA to avoid covenant breaches".

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Publications

The evolving fiction of EBITDA in the European leveraged finance loans market Lev Fin Spin

EBITDA first rose to prominence in the US leveraged buy-out craze of the 1980s and has since formed the key metric of leveraged finance transactions across the world. In this article,...

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Hogan Lovells Publications

Direct lending in Italy – moving into the mainstream? Lev Fin Spin

Until recently, it was necessary to hold a licence as a bank or financial intermediary to lend in Italy. However the law has changed to allow insurers, alternative investment funds, SACE...

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