Milbank Advises Goldman Sachs Merchant Banking Division on Mydentist’s Private Placement of Second Lien Notes

Milbank, Tweed, Hadley & McCloy LLP advised Goldman Sachs Merchant Banking Division, as Note Purchasers, on the £130 million private placement of Second Lien Floating Rate Notes due 2023 issued by Mydentist, a portfolio company of The Carlyle Group, Europe’s largest vertically-integrated dental business and the United Kingdom’s number one dental practice chain. The pre-placed private placement was part of Mydentist’s refinancing of existing indebtedness, which also included entry into a new £100 million super senior revolving credit facility and an offering of £425 million of fixed and floating rate senior secured notes due 2022, which was the first sterling-denominated high yield issuance to test the market following the EU referendum in the United Kingdom on 23 June, 2016.

The cross-practice Milbank team was co-led by London Leveraged Finance partner Suhrud Mehta and London Capital Markets partner Stuart Morrissy and included special counsel Trevor Truman, senior associate Alexandra Schofield and associates Misa Schmiederova, Alastair Gillespie, Catherine Molony and Azzurra Camillieri. The Milbank team also included New York Tax special counsel Eschi Rahimi-Laridjani and London Tax associate Luke Vassay.