Richard Lloyd
Biography
Overview
Richard is a partner in the Debt Finance Group in London, specialising in cross-border leveraged buyouts, corporate financings and financial restructurings. Richard works on a wide range of financing structures, including syndicated financing, unitranche, second lien, holdco PIK and also regularly works with the high yield team on bank-bond financings.
Experience
Acquisition Finance: Syndicated Bank Lending
Acting for Goldman Sachs, Golub Capital and Berenberg, as term and revolving credit lenders, on the acquisition, capex and working capital financing to Baduhenna Holdco to support its acquisition of BBI Group.
Acting for J.P. Morgan AG, UniCredit S.p.A. and Goldman Sachs Bank Europe SE, as mandated lead arrangers and J.P. Morgan Chase, UniCredit S.p.A. and Goldman Sachs Bank Europe, as original lenders, in connection with a €60 million revolving credit facility to Cedacri Mergeco S.p.A. to finance its acquisition of Cedacri S.p.A. White & Case LLP also advised the initial purchasers in connection with the debut high yield bond offering by Cedacri Mergeco S.p.A., the proceeds of which have been used in connection with the acquisition of shares in Cedacri S.p.A.
Acting for JP Morgan in connection with the syndicated financing to a vehicle incorporated by Nuova Argo Finanziaria S.p.A. to fund the voluntary tender offer for all the ordinary shares of ASTM S.p.A. for a total value of approximately €1.93 billion with the aim of delisting the company.
Acting for JP Morgan and Nomura on the financing of the acquisition by Bridgepoint of groupe CEP from J.C. Flowers & Co and CHG Participations.
Acting for the super senior revolving credit facility lenders on the debt and equity recapitalisation of Selecta Group, the European market leader in self-service beverage and snack solutions. Debt size: principal amount of €1.24 billion and CHF 250 million, €150 million revolving credit facility agreement.
Acting for the group of lenders in connection with the take-private acquisition of Charles Taylor plc by Lovell Minnick Partners. Debt size: £150m TLB and £20m RCF.
Acting for the group of lenders in connection with the acquisition of Stark Group by Lone Star Funds. MLAs: Credit Suisse International, Danske Bank A/S, DNB Bank ASA, Nykredit Bank A/S. Debt size: €515m senior secured notes plus a €100m Super Senior RCF.
Acting for the group of lenders in connection with the €375m acquisition financing of Esmalglass by Lone Star Funds. MLAs: AMONGST OTHERS, Credit Suisse International and Deutsche Bank AG, London Branch.
Acting for the group of lenders in connection with the acquisition of Louis Poulsen by Investindustrial. MLAs: DNB Bank ASA, Fillal AF DNB Bank ASA Norge, Skandinaviska Enskilda Banken, AB (PUBL) and UniCredit SpA. Debt size: DKK225m (Facility A), DKK525m (Facility B) and a DKK150m RCF.
Acting for the group of lenders in connection with the acquisition of Alloheim by Nordic Capital. MLAs: Barclays Bank PLC, Deutsche Bank AG, London Branch, Goldman Sachs Bank USA, J.P. Morgan Securities PLC, Credit Agricole Corporate and Investment Bank Deutschland, Niederlassung Einer Französischen Société Anonyme, Credit Suisse AG, London Branch, Mizuho Bank, LTD., Skandinaviska Enskilda Banken AB (PUBL), Frankfurt Branch and Sumitomo Mitsui Banking Corporation, Düsseldorf Branch. Debt size: €500m TLB and €100m RCF.
Acting for the group of lenders in connection with the acquisition of Ullink and Itiviti by Nordic Capital. MLAs: Credit Suisse International, DNB Bank ASA, Sweden Branch, UBS Limited and Unicredit Bank AG, London Branch. Debt size: €441m TLB, $140m Second Lien and $50m RCF.
Acquisition Finance: Unitranche/Direct Lending
Acting for Ares Management Limited in connection with the acquisition of OCM Netherlands Dental Clinics Holdings and Adent Cliniques Dentaires Groupe by Nordic Capital. Debt size: €452m.
Acting for the unitranche lender on Exponent's acquisition of the European and Asia-Pacific operations of Scotts Miracle-Gro.
Acting for the unitranche lender on Bain Capital's acquisition of MKM Building Supplies.
Acting for the unitranche lender on One Equity Partners' acquisition of Walterscheid Powertrain.
Acting for Goldman Sachs (through its funds) in connection with the acquisition of Ober Scharrer Gruppe by Nordic Capital. Debt size: €330m.
Acting for Goldman Sachs (through its funds) in connection with the acquisition of PS Healthcare by Nordic Capital. Debt size: €385m.
Acting for Goldman Sachs (through its funds) in connection with the acquisition of Netrisk by TA Associates.
Corporate Finance
Acting for Santander and HSBC, as revolving credit facility lenders, on the debt financing package to support Caffè Nero's refinancing of all its debt, with Lazard acting as financial adviser.
Acting for the group of lenders in connection with debt financing made available to GHD GesundHeits, a portfolio company of Nordic Capital.
Acting for the group of lenders in connection with debt financing made available to The Binding Site, a portfolio company of Nordic Capital. MLAs: HSBC, SEB and SMBC. Debt size: €325m TLB and £30m RCF.
Acting for the group of lenders in connection with debt financing made available to Sunrise Medical, a portfolio company of Nordic Capital.
Acting for Ares Management Limited in connection with debt financing made available to Conscia, a portfolio company of Nordic Capital.
Acting for the unitranche lender in connection with debt financing made available to HCS Group, a portfolio company of HIG.
Acting for Barings Global Advisers Limited and Goldman Sachs Private Capital on the refinancing of existing liabilities of Cordenka GmbH & Co. KG.
Acting for Deutsche Bank in connection with its real estate financing of the development of a central London data centre by Volta Data Centres.
Acting for Amigo Loans Ltd in connection with a £110m Super Senior RCF launched concurrently with a new issuance of £400m senior secured High Yield Notes by Amigo Luxembourg S.A.
Acting for DX (Group) plc, a leading independent logistics operator in the UK and Republic of Ireland, on its financial reorganisation and refinancing provided by HSBC Bank plc, in connection with its initial public offering and admission to the AIM market of the London Stock Exchange.
Acting for Sunseeker luxury yacht group in connection with the refinancing of its existing term debt provided by HSBC Bank plc.
Restructuring
Acting for the RCF lenders of Selecta, a portfolio company of KKR Capital Markets, in connection with its debt restructuring.
