Luminar Group Holdings - Refinancing of bank debt

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Slaughter and May advised Luminar Group Holdings plc, the nightclub business, in relation to the refinancing of its bank facilities with its existing lending syndicate (comprised of Barclays Capital, Lloyds TSB Corporate Markets and The Royal Bank of Scotland plc as agent for National Westminster Bank plc). The refinanced facilities comprise two term loans of £44 million and £40 million and a revolving credit facility of £15 million, with the maturity date of the facilities extended to December 2013.

As part of the refinancing, Luminar Group Holdings plc has also granted the lending banks equity warrants over 5% of its existing issued share capital at a subscription price per warrant share equal to the current nominal value of 25 pence per share, exercisable at any time up to the seventh anniversary of the facilities agreement.

Financing: Guy O'Keefe (partner), Caroline Sanderson (associate), Lucy Smith (associate); Corporate: Kathryn Davis (partner), Robert Hollas (associate); Tax: Graham Airs (partner), Holly Jones (associate), Elliot Aron (associate); Commercial Real Estate: Jane Edwarde (partner), David Seymour (associate); Intellectual Property: David Ives (partner), Cindy Knott (associate)