Paul Hastings Advises The Very Group on Senior Secured Notes Private Placement and Revolving Credit Facility

Paul Hastings LLP advised The Very Group, the U.K.’s largest domestic integrated online-only non-food retailer and the leading pureplay consumer finance provider, in connection with the private placement of £598 million aggregate principal amount of senior secured notes and the entry into commitments for a £150 million super senior revolving credit facility and related transactions. The proceeds of the private placement, together with additional available cash, are expected to be used to redeem in full the group’s existing senior secured notes. The closing of the transactions is subject to customary conditions.

Partners Patrick Bright and Peter Hayes led the Paul Hastings team, which also included partners Helena Potts, Jiten Tank and Nina Moffatt; of counsel Rob Wilson; and associates Bernard Lung, Pierfrancesco Benedetti, Lebo Latakgomo, Rebecca Bunyan, Amrit Khosa, Simon Nikolov and Michael Nathin.

More details on the transaction can be found here.

About Paul Hastings

With widely recognized elite teams across 17 core practices, Paul Hastings is a premier law firm with a culture of excellence focused on providing intellectual capital and superior execution globally to the world’s leading investment banks, asset managers and corporations.