White & Case Advise on First Cross Border Private Placement Deal Since Lehman's Collapse

London, March 9, 2009 ... Global law firm White & Case LLP has advised QinetiQ Group plc on the first traditional private placement deal of 2009 and the first since the collapse of Lehman Brothers. The US$300 million private placement of senior notes to U.S. institutional investors closed on 5 February.

QinetiQ Group, a British defence technology firm, successfully secured the US$300 million private debt placement with US financial institutions to help diversify the source of its debt facilities. JP Morgan Securities and Barclays Capital acted as co-placement agents on the deal. The deal represents several other 'firsts', including the first broadly syndicated NAIC-2 (National Association of Insurance Commissioners) transaction since Q3 of last year. Prior to QinetiQ, the previous cross border deal was Compass Group out of the UK, which was completed in September 2008, before the collapse of Lehman Brothers.

"We are honoured to have advised QinetiQ on such a significant deal in the current market," comments Andrew Weiler, partner, White & Case. "Not only is this the first deal of its kind in 2009, it was also the largest transaction within the traditional private placement market post Lehman filing Chapter 11."

QinetiQ provides research, technical advice, technology solutions and services to customers in core markets of defence and security. Operating principally in the UK and North America, QinetiQ have recently entered the Australian defence consulting market.

The White & Case team advising QinetiQ Group on the deal was led by partner Andrew Weiler and assisted by associate Kellie Morton.

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