Practice

Leveraged and Acquisition Finance

Responding to competitive tensions and regulatory challenges, the leveraged finance market is constantly evolving. Direct lending also continues to grow. The leveraged finance team at Hogan Lovells has extensive experience advising bilateral and syndicates/clubs of lenders around the world on senior and subordinated...

Representative experience

HNA Group on its circa €1.5bn debt and equity financing relating to its acquisition of Swissport.

Regal Cinemas Corporation on the US$1.05bn refinancing of its existing revolving credit and term loan facilities.

Advising Intermediate Capital Group on the first ever Australian dollar denominated and Australian law governed Term Loan B facility for Iron Mountain's acquisition of Recall Australia.

Advising the senior lender group on the financing for the acquisition of the Abbey Life insurance business by Phoenix Group.

Media Mention

Borrowers manipulating EBITDA to avoid covenant breaches IFLR

Paul Mullen was quoted in an IFLR article entitled "Borrowers manipulating EBITDA to avoid covenant breaches".

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Publications

The evolving fiction of EBITDA in the European leveraged finance loans market Lev Fin Spin

EBITDA first rose to prominence in the US leveraged buy-out craze of the 1980s and has since formed the key metric of leveraged finance transactions across the world. In this article,...

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Hogan Lovells Publications

Direct lending in Italy – moving into the mainstream? Lev Fin Spin

Until recently, it was necessary to hold a licence as a bank or financial intermediary to lend in Italy. However the law has changed to allow insurers, alternative investment funds, SACE...

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Hogan Lovells Publications

Private credit: the rise of direct lenders and alternative funding structures Lev Fin Spin

On 12 September, Hogan Lovells hosted the FIS Summit Series in Hong Kong, where attendees explored the state of financial markets ten years after the Lehman Brothers' collapse. One of the...

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Publications

Alternative lenders in France: current issues and opportunities Lev Fin Spin

In a recent webinar for the Loan Market Association Michel Quéré, Alexander Premont and Baptiste Gelpi discussed the current issues and opportunities for non-bank lenders in...

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Published Works

Key documentation issues in the European leveraged finance mid-market Lev Fin Spin

First published in LexisPSL Banking and Finance Mini-Mag: Autumn 2018 as distributed at the Loan Market Association Conference 2018

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