Milbank Represents Banks in $4.525B Debt Financing for Acquisition of Inmarsat plc

Milbank LLP acted as lead counsel to Barclays, as administrative agent and collateral agent, Barclays, Bank of America Merrill Lynch and UBS Investment Bank, as joint global coordinators, joint lead arrangers and joint bookrunners, and the other joint bookrunners in connection with senior secured credit facilities in an aggregate principal amount of $2.45 billion, and as lead counsel to Bank of America Merrill Lynch, Barclays and UBS Investment Bank, as joint global coordinators and lead bookrunners, and the bookrunner and co-managers in connection with senior secured notes in an aggregate principal amount of $2.075 billion, in each case to finance the take-private acquisition of Inmarsat plc by a consortium comprised of funds advised by Apax Partners LLP, funds advised by Warburg Pincus LLC or its affiliates, the Ontario Teachers’ Pension Plan Board and the Canada Pension Plan Investment Board.

Inmarsat, a leading mobile satellite services provider serving the Maritime, Aviation, Government and Enterprise segments, owns and operates multiple state-of-the-art satellite networks. The company operates 13 satellites and has 40 years of experience in designing, launching and operating satellite-based networks.

The Milbank Global Leveraged Finance team was led by partners Marcus Dougherty and Charles Stern and included associates George Zhang and Lindsey Kell in New York and partners Suhrud Mehta and Miko Bradford and associates Rahul Chatterji and Stephanie Colquhoun in London.

The Milbank Capital Markets team was led by partner Rod Miller and included special counsel Lesley Janzen and associates Theo Hart, Alex Becker and Alex Youssef.

Also providing advice on various aspects of the transaction were Transportation and Space partner Dara Panahy and special counsel Alexis Sáinz and Global Corporate partner Mark Stamp and special counsel Merih Altay.