Milbank advised the initial purchasers of $235 million 8.625% senior secured notes issued by Ardonagh Midco 3 plc, a subsidiary of The Ardonagh Group Limited.
The proceeds of the offering will be used to fund the acquisition by Ardonagh of the Swinton Group, Minton House Group Limited, Health and Protection Solutions Limited and Professional Fee Protection Limited and for general corporate purposes.
Ardonagh is a leading UK insurance broker and insurance services provider.
The Milbank team was led by London Leveraged Finance/Capital Markets partner Rebecca Marques, with associates Melanie Probst, Kenneth Ryan, Ignacio Perez Bessio and Anastasia Kontaxi. The team also included New York Tax partner Eschi Rahimi-Laridjani and associate Archan Hazra, London Tax special counsel Matthew Mortimer and London Leveraged Finance partner Neil Caddy and associates Laura Bonamis and Francesca Mosely.
