Slaughter and May is advising Rolls-Royce Holdings plc on its proposed recapitalisation package

Slaughter and May is advising Rolls-Royce Holdings plc on its proposed recapitalisation package, which is designed to improve liquidity headroom, reduce balance sheet leverage and support disciplined execution and investment.

The package includes the launch of a fully underwritten rights issue to raise gross proceeds of approximately £2bn and the announcement of an intention to commence a bond offering to raise gross proceeds of at least £1bn. Rolls-Royce has also agreed commitments for a new two year term loan facility of £1bn and has received an indication of support in principle from UK Export Finance for an extension of its 80% guarantee of Rolls Royce’s existing £2bn five year term loan to support a potential increase in the loan amount of up to £1bn.

Slaughter and May is working very closely with the Rolls-Royce team, including Pamela Coles, Mark Gregory, Nicola Carroll, Ben Horsley, James Harvey and Jeff Pasternack, and is advising Rolls-Royce as a combined team with Davis Polk & Wardwell London (who are advising on matters of US law).

Corporate
Steve Cooke Partner
Alex Dustan Partner
Yvonne Lee Senior Counsel
James Cook Associate
Thomas Potter Associate
Emily Hunter Associate
Edward Rochford Associate
Henrietta Wirta Associate
Richard Bishop Associate
Rachel Lawrence Associate

Will Humphries / Trainee, Clara Austera / Trainee, Sam Cadd / Trainee, Gregory Ong / Trainee, Alex Cranstoun / Trainee, Owen Clarridge / Trainee, David Kasal / Trainee, Tara Kakkar / Trainee, Marina Goodman / Trainee, Rei See / Trainee, Heather Crosby / Trainee, Natalie Goodman / Trainee

Financing
Ed Fife Partner
Saffiya Haddad Associate
Abigail Dalgleish Associate
Tax
Pensions, Employment and Incentives
Phil Linnard Partner
Rosemary Nelson Associate
Cerys Mather Associate
Adrien Mallevays Associate