Milbank Advises Underwriters in £220,000,000 Debt Offering by Arrow Global

LONDON – Milbank, Tweed, Hadley & McCloy LLP represented Goldman Sachs International, J.P. Morgan Securities plc, HSBC Bank plc, DNB Markets, a division of DNB Bank ASA, Lloyds Bank plc and The Royal Bank of Scotland plc as initial purchasers on the recent £220,000,000 high yield debt offering by Arrow Global.

The proceeds of the notes were used to redeem all of Arrow Global’s outstanding 7.875% senior secured notes due 2020.

This transaction is only the second sterling-denominated issuance since the Brexit vote in June, and one of only five sterling deals to price this year.

The cross-practice Milbank team was led by London Capital Markets partner Stuart Morrissy, special counsel Trevor Truman and associates Meredith Hines and Nina van Limburg Stirum, and London Leveraged Finance partner Neil Caddy and associate Michelle Gilmore. The Milbank team also included New York Tax partner Andrew Walker, New York Tax associate Jules Mugema and London Tax associate Luke Vassay.

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