London Banking and Capital Markets

Name: Cahill
Price range: $$$

Corporate

Litigation

Overview

Cahill’s London-based banking and capital markets practice advises global financial institutions and companies on European and transatlantic transactions as well as on US transactions for European based companies. Headquartered in Paris from 1928 before moving to London in 2000, the firm has advised clients in Europe for over 90 years on some of the most complex, high-profile and ground-breaking transactional matters, including acting for the lead arrangers on the £5.5 billion financing to support Kraft’s acquisition of Cadbury in 2010 and the bookrunners on the $27 billion financing to support Comcast’s acquisition of Sky plc in 2018.

Our London practice provides English law lending and New York law capital markets and lending expertise across the spectrum of lending institutions, from investment and commercial banks to institutional investors and private credit providers, and across the spectrum of financing products, from term loan A and B, high-yield, second lien, PIK and preferred equity.

Our combined London and New York practices have a wealth of experience executing transactions in Europe. With extensive knowledge in leveraged financings, secured and unsecured high-yield debt offerings, syndicated loans and asset-based loans, Cahill’s global team has been ranked no. 1 legal adviser to underwriters of U.S. high yield bond offerings by volume each year since 2005 and as no. 1 legal adviser to lead arrangers of U.S. leveraged loans each year since 2010 (Bloomberg, Refinitiv Loan Connector) and was recognised as a Capital Markets Practice Group of the Year in 2019.

Our practice has achieved leading league table ranking for European transactions, including:

No. 1 legal adviser to lead banks for UKI leveraged loans (Debtwire 2022).
No. 2 legal counsel to lead banks for Western Europe GBP-Denominated HY Bonds (Debtwire 2022).
No. 3 legal counsel to lead banks for Western Europe HY Bonds (Debtwire 2022).
No. 3 legal adviser to managers and lenders in European Leveraged Finance by volume (Bloomberg 2022).

Banking

Ranked by Chambers UK, our London team has extensive experience acting for lenders across the capital structure on European leveraged finance transactions, including cross-border financings and direct lending transactions, and is described by clients in Chambers Global as “our first, go-to firm.” Our clients include the market’s most prominent international banking institutions as well as private credit providers. To learn more about Cahill’s banking and finance practice, click here.

Capital Markets

Our London team advises investment banking firms, commercial banks, and public and private companies on a broad range of debt capital markets instruments, with particular focus on secured and unsecured high-yield debt offerings. Ranked in Chambers UK and Chambers Global, Cahill is described as having an “unrivalled position as the key adviser to global underwriters.” To learn more about Cahill’s capital markets practice, click here.

Sector Expertise

Our practice operates across all major sectors, including in the business services, e-commerce, energy, entertainment, financial services, food & grocery, healthcare, infrastructure, manufacturing, oil & gas, pharmaceuticals, real estate, retail, telecommunications and travel industries.

Selected Recent Transactions

Miller Homes: The lead arrangers in the revolving credit facility and a senior secured notes offering in connection with the acquisition by Apollo of Miller Homes, one of the UK’s leading homebuilders headquartered in Scotland.
Cerdia: The initial purchasers in connection with an offering of senior secured notes by Cerdia Finanz GMBH, a portfolio company owned by Blackstone, representing the company’s debut high yield issuance.
eDreams: The lead arrangers in connection with notes offering, equity offering and super senior revolving credit facility for eDreams, a leading online subscription company focused on travel with a presence in 45 countries.
Apcoa: The lead arrangers in connection with a €685 million equivalent offering of senior secured fixed and floating rates notes and a €80 million super senior revolving credit facility for Apcoa Parking, a portfolio company of Centerbridge Partners, and Europe’s longest-established parking provider headquartered in Germany.
888/William Hill: The lead arrangers in connection with syndicated term loan, bond and revolving facility financings to support the acquisition by 888 Holdings plc, one of the world’s leading online betting and gaming companies, of the international (non-US) business of William Hill.
Infront: The lenders in connection with the unitranche and super-senior revolving credit facilities provided to the Infront Group, a leading global sports events, media and marketing platform headquartered in Switzerland.
DSM Engineering:The lead arrangers in connection with the debt financing arrangements in support of the acquisition by Advent International and LANXESS of the engineering business of DSM and the joint venture with LANXESS High-Performance
Kem One: The lead arrangers in connection with the bridge to bond and super senior revolving credit facilities provided to support the acquisition by Apollo Global Management of the Kem One Group, a leading European chemicals producer headquartered in France.
Urbaser: The lead arrangers in connection with the €2.455 billion credit facilities to support the acquisition by Platinum Equity of Urbaser S.A.U., a global environmental services provider headquartered in Spain.
Anticimex: The lead arrangers in connection with the SEK16 billion EUR/USD/AUD equivalent first lien term loan and SEK3 billion revolving credit facilities to support the acquisition by EQT of Anticimex International AB, a global pest control company headquartered in Sweden.
Keepmoat: The lead arrangers in connection with the bridge to bond and super senior revolving credit facilities provided to support the acquisition by Aermont Capital of the Keepmoat Homes, one of the largest UK home builders.
Marlink: The lead arrangers in connection with the USD815 million financing to support the acquisition by Providence Equity Partners of Marlink, leading provider of smart network solutions.
Belden: The initial purchasers in a €300 million notes offering by Belden Inc., a signal transmission solutions provider built around two global business platforms – Enterprise Solutions and Industrial Solutions.
Nasdaq: The initial purchasers in a €615 million notes offering by Nasdaq, Inc., a global technology company serving the capital markets and other industries.
IVI-RMA: The debt financing arrangements in support of KKR’s acquisition of IVI-RMA, a global fertility treatment group.
Primafrio: The lead arrangers in connection with a senior secured bridge facility, revolving credit facility and term loan facility in connection with the acquisition by Apollo of Primafrio Corporation, S.A., a Spanish road freight operator.
Chelsea FC: The lead arrangers in connection with the credit facilities provided to Chelsea FC, following its acquisition by the Boehly-led consortium.
Generalife: The lenders in connection with the unitranche financing in support of KKR’s acquisition of Generalife, one of Europe’s largest fertility clinic groups.
Engage: to the pharmaceutical industry. The lenders in connection with a unitranche facility and PIK facility in support of Astorg’s acquisition of OPEN Health, a leading global provider of scientific communications and market access services.
Icon Group: Lead arrangers in connection with senior and second lien credit facilities in support of the acquisition by EQT of the Icon Group, a leading cancer care provider headquartered in Australia.
Biosynth: The lenders in connection with the unitranche and super senior revolving credit facilities in support of KKR’s acquisition of Biosynth Beteilingungs AG.
Contabo: The lenders in connection with the unitranche and super senior revolving credit facilities in support of KKR’s acquisition of Contabo, a leading global cloud hosting platform.
International Game Technology: The dealer managers in connection with an upsized offer to purchase approximately $400 million aggregate principal amount of its outstanding USD notes maturing in 2025 and approximately €200 million of its EUR notes maturing in 2024 by International Game Technology, a global leader in gaming.
Avast: The lead arrangers in connection with the credit facilities provided to support the acquisition by NortonLifeLock of Avast Plc, a cybersecurity company.
Sanne: The lead arrangers in connection with the first and second lien credit facilities provided to support the acquisition by Apex Group of Sanne Group plc, a FTSE 250 specialist alternative asset fund and corporate services provider. In addition, the lead arrangers in subsequent incremental acquisition financing credit facilities provided to Apex.