05 August 2019

Carey Olsen advises on refinancing and acquisition of Domestic & General

Lawyers from Carey Olsen's banking and finance team in Jersey have acted for underwriters and lending banks involved in the high yield refinancing of the Domestic & General Group, in connection with the acquisition of 30% of the Group by an entity ultimately owned by the Adu Dhabi Investment Authority.

The refinancing involved the issuance of floating rate, senior and senior secured notes and entry into a super senior revolving credit facility.

As part of the deal, CVC funds will continue as D&G's majority shareholder via CVC Fund VII.  The acquisition is expected to close by the end of 2019, subject to customary merger control and regulatory approvals.

Working alongside Weil, Gotshal and Manges LLP, the Carey Olsen team was led by partner Kate Andrews who was assisted by senior associates Mathew Du Val and Ashley Morrison and associate Stephen Le Cornu.