Uma Sud

Simpson Thacher advised Takko Fashion Gmbh (“Takko Fashion”) in connection with the Group’s successful cross-border restructuring involving, among other things, a transfer of ownership to certain of Takko Fashion’s bondholders and a comprehensive recapitalisation.~~With the completion of the transaction Takko Fashion has strengthened its financial profile by reducing leverage by more than €250m and extending debt maturities to 2026. Takko Fashion is now better positioned to further execute on its strategic priorities and expand its presence across Europe.~~Takko Fashion is a leading European fashion discount retailer with almost 2,000 stores in 17 European countries.~~The Simpson Thacher team included Nicholas Shaw, Uma Sud, Patrick Kratzenstein and Thomas Flament (Capital Markets); James Watson, Thomas Wilson, Ilaria Olivero and Euan Gillies (Restructuring); Shahpur Kabraji, Matthew Hope, Margareta Chlubnova and Kwasi Mills-Bampoe (Credit) and James Howe, Christopher Vallance and James Evelegh (UK Corporate).

Nov 8

1 min

Simpson Thacher represented Stonegate Pub Company Financing 2019 plc, a wholly owned subsidiary of Stonegate Pub Company Limited (“Stonegate”), a TDR portfolio company, in connection with its Rule 144A/Regulation S offering of £1.7 billion (equivalent) Senior Secured Notes, consisting of £950 million in aggregate principal amount of 8.25% Senior Secured Notes due 2025 and €300 million in aggregate principal amount of Floating Rate Senior Secured Notes due 2025, which closed on July 31, 2020, and a private placement of £500 million in aggregate principal amount of 8% Senior Secured Notes due 2025, which closed on July 13, 2020.~~Stonegate used the aggregate proceeds to repay in full the outstanding borrowings under its senior bridge facilities and to prepay in part its senior term facilities. Borrowings under these facilities were used, together with certain other funding, to finance the acquisition by Stonegate of Ei Group plc (“Ei Group”) in March 2020 and to refinance certain indebtedness. With the acquisition of Ei Group, Stonegate is the largest pub company in the United Kingdom based on the number of sites.~~The Simpson Thacher team included Nick Shaw, Uma Sud, Surya Bala and John Lim (Capital Markets); Stephen Short, Gert Raig, Sophie Davies and Jia Meng (Credit); and Meredith Jones and Gal Shemer (Tax).

Mar 8

1 min

Simpson Thacher represented Lincoln Financing Holdings Pte. Limited and its affiliates in connection with a Rule 144A and Regulation S offering by Lincoln Financing S.à r.l. of €750 million of 3.625% Senior Secured Notes due 2024 and €600 million Floating Rate Senior Secured Notes due 2024. The €1.35 billion notes offering closed on April 2, 2019.~~Lincoln Financing Holdings Pte. Limited is the parent company of LeasePlan Corporation N.V. (“LeasePlan”) and is owned by a consortium of investors led by TDR Capital. LeasePlan is a global fleet management and vehicle mobility provider originally founded in the Netherlands in 1963 and currently operates in more than 30 countries across Europe, North and South America and the Asia-Pacific region.~~The Simpson Thacher team included Nick Shaw, Carol Daniel, Uma Sud, Pieter Lavens and Surya Bala (Capital Markets); Stephen Short, Katie Geraghty and Andrew Paisley (Credit); Meredith Jones and Kelli Rivers (Tax); and Jeanne Annarumma (ERISA).

Mar 4

1 min

Simpson Thacher is representing Rosebank Industries plc (“Rosebank”) in connection with its application for admission to trading on the AIM Market of the London Stock Exchange and its placing of 20,000,000 ordinary shares at 250 pence per share, which has successfully raised gross proceeds of £50 million.~~The Rosebank co-founders are previous leading members of the senior management team of Melrose Industries PLC and intend to recreate the same successful ‘Buy, Improve, Sell’ business model which they pursued at Melrose. Rosebank proposes to acquire quality industrial or manufacturing businesses with an indicative enterprise value of up to approximately US$3 billion whose performance may be improved. Rosebank will then invest heavily to improve the performance of any such business, typically over a three- to five-year investment horizon, before selling it to a new owner for the next stage of its development, and returning the net cash proceeds to shareholders.~~The Simpson Thacher team includes Adam Signy, Lucy Gillett, Deborah Harris, Jewel Zhu and Sam Moon (Corporate – U.K.); Nick Shaw, Uma Sud and Iakovos Anagnostopoulos (Corporate – U.S.); Yash Rupal and Oliver Rosshandler (Tax – U.K.); and Meredith B. Jones and William J. Smolinski (Tax – U.S.).

Sep 7

1 min

Simpson Thacher represented United Group B.V. (“United Group”), a KKR portfolio company, in connection with the solicitation of consents from the holders of United Group’s 4.375% Senior Secured Notes due 2022 (the “Notes”) to waive and approve an amendment to certain provisions contained in the Notes, as set forth in the consent solicitation statement dated July 24, 2018. The purpose of the waiver and proposed amendment was to allow United Group to use the €200 million that was subject to the special mandatory redemption provisions (the “Special Mandatory Redemption Funds”) to complete the proposed acquisition (the “Acquisition”) by Slovenia Broadband S.à r.l., a wholly owned direct subsidiary of United Group, of all of the issued and outstanding share capital and capital stock of NOVA TV d.d. and Produkcija Plus storitveno podjetje d.o.o. (“POP Slovenia,” which includes its subsidiaries POP TV d.o.o. and Kanal A d.o.o.), from CME Media Enterprises B.V., upon obtaining all necessary antitrust and regulatory approvals in connection with the Acquisition or, in the event that the acquisition of POP Slovenia is not consummated or United Group determines that the acquisition of POP Slovenia is unlikely to close, to instead use the remaining portion of the Special Mandatory Redemption Funds to repay all or a portion of the amounts outstanding under its revolving credit facility and other liquidity lines by waiving and deleting the special mandatory redemption provisions contained in the Notes. United Group entered into a supplemental indenture containing the proposed amendments on August 3, 2018.~~United Group is a leading provider of cable and satellite pay-TV, broadband internet, mobile and other telecommunications services in South Eastern Europe.~~The Simpson Thacher team included Nick Shaw, Uma Sud, J. Hillyer Jennings and J. John Lim (Capital Markets); and Meredith Jones and Bill Smolinski (Tax).

Aug 8

1 min