April 8, 2014

Milbank Represents Underwriters and Lead Arrangers on Concurrent IPO and Refinancing for Nord Anglia Education, Inc.

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FOR IMMEDIATE RELEASE

International law firm Milbank, Tweed, Hadley & McCloy represented the underwriters, led by Credit Suisse, Goldman Sachs and J.P. Morgan, on the $350 million initial public offering by Nord Anglia Education, Inc. ("Nord Anglia") on the New York Stock Exchange (NYSE: NORD).

Milbank concurrently represented Joint Lead Arrangers Goldman Sachs, J.P. Morgan, Credit Suisse and HSBC on a senior secured $515 million Term Loan B facility and $75 million Revolving Credit Facility that closed alongside the IPO, refinancing substantially all of Nord Anglia's outstanding indebtedness. The Term Loan B is believed to be the largest such syndication to date for a company headquartered in Asia.

Nord Anglia, a Baring Private Equity Asia portfolio company based in Hong Kong, runs 27 premium schools that educate more than 17,000 students from kindergarten through the end of secondary school. The schools operate in markets characterized by large expatriate populations and rising disposable incomes in China, Europe, the Middle East/Southeast Asia and North America.

The Milbank Global Securities team was led by partners Joshua M. Zimmerman in Hong Kong and Rodney Miller in New York and included Asian counsel Mandy Wong and associates Benjamin Miles, Jessica Zhou, Mindy Allen, Theo Hart and York Wu. The Milbank Global Leveraged Finance team was led by partner Lauren Hanrahan and included associates Stanley Boris and Laura Larsen.

"Nord Anglia's dual-track IPO and refinancing demonstrate Milbank's ability to execute complex financings seamlessly across multiple jurisdictions and across practice groups," commented Mr. Zimmerman. "We had worked on Nord Anglia's prior bank and bond financings and are very proud to have helped them become a public company in the U.S."

Also providing advice on various points in the financing were partners Joel Krasnow, Douglas Landy and Andrew Walker, of counsel Matthew Ahrens and associates Vicky Cox, Jenna Darler, Robin Heszkel, Matthew Mortimer, Joseph Reich and Rebecca Smith.