Slaughter and May advised Arrow Global - issue of EUR 230 million senior secured floating rate notes
Slaughter and May, working as a team with Paul, Weiss, Rifkind, Wharton & Garrison LLP, advised Arrow Global Group plc (Arrow Global), one of Europe’s leading purchasers and managers of debt, on the issue by Arrow Global Finance plc of EUR 230 million senior secured floating rate notes due 2023. Goldman Sachs International, J.P. Morgan Securities plc and HSBC Bank plc acted as physical bookrunners and global coordinators for the issue, with The Royal Bank of Scotland plc, Lloyds Bank plc and DNB Markets, a division of DNB Bank ASA, acting as co-managers. The notes are governed by New York law and will be listed on the Luxembourg Stock Exchange.
The net proceeds of the issue are proposed to be used to fund the acquisition of InVesting B.V. as announced on 1 April 2016 (on which Slaughter and May is also advising), to repay part of Arrow Global’s revolving credit facility and for general corporate purposes.