Acquisition and Leveraged Finance

Our Banking and Capital Markets team acts for financiers – traditional and non-bank – and borrowers on a wide variety of acquisition and leveraged finance deals. We offer an integrated service, often working alongside experts in our Tax, Corporate M&A, Insolvency and Restructuring and Real Estate teams.

Much of our work involves advising on highly complex cross-border deals requiring extensive interaction with professionals in many different disciplines and in multiple jurisdictions. These transactions often have several layers of financing, including debt securities (often listed), senior secured credit facilities (commonly syndicated), mezzanine and junior debt. In many cases the financing goes beyond funding for the acquisition into finance for expansion or investment, working capital and trade finance, such as guarantee or letter of credit facilities.

We have particular expertise in advising on the financing the acquisition of non performing loan portfolios and other distressed assets, acting for both financiers and borrowers. This work is frequently cross-border and multi-disciplinary in nature, using highly complex structures with large numbers of underlying assets.

Representative transactional work includes acting for:

  • Perrigo on the financing of its acquisition of Elan Corporation – total deal value approximately USD 8.6 billion.
  • Goldman Sachs Bank USA on financing the acquisition of the Amdipharm Mercury Group by Concordia Healthcare – total deal value approximately USD 3.5bn.
  • Allied Irish Banks, plc on the provision of loans to various entities to acquire trading businesses, including in the hotel, leisure and healthcare sectors.
  • Credit Suisse on its financing of an acquisition of a portfolio of distressed assets from Irish Bank Resolution Corporation (in Special Liquidation).