Paul's practice is focused on leveraged and corporate finance transactions, particularly high yield debt offerings, as well as restructurings, tender offers and other liability management exercises.
Having previously been a Director in the European Leveraged Finance Group at Barclays, he has significant experience in corporate finance and acquisition finance, and has extensive understanding of leveraged products and structures. He acts for both underwriters and issuers across the EMEA region.
Represented Goldman Sachs International on the offering by N&W Global Vending S.p.A, a leading manufacturer in Europe of coffee, other hot and cold beverage and food vending machines, of a Temporary Senior Secured Notes. The proceeds of the offering were used to fund an acquisition and the transaction included a complex and innovative structure of an exchange of the Temporary Notes for Additional Notes to be issued by the Issuer under an existing Senior Secured Notes Indenture.
Represented Barclays Bank PLC and Mediobanca – Banca di Credito Finanziario S.p.A. as global coordinators, HSBC Bank plc and Lloyds Bank plc as joint bookrunners and Credit Suisse Securities (Europe) Limited as co-manager, on the Rule 144A/Regulation S debut offering of £550 million 7.75% senior secured notes due 2022 by Shop Direct Limited and the concurrent entry into £150 million of revolving credit facilities.
Advised IHS Netherlands Holdco B.V. on its issue of €800 million senior notes due 2021. The issuer is a leading operator of telecommunications towers in Nigeria. The offering was made in conjunction with a tender offer for existing notes issued by a subsidiary of the issuer.
Advised the initial purchasers on the issue of €300 million senior secured notes due 2023, and the placement agents on the issue of €100 million second lien notes due 2023, in each case issued by N&W Global Vending S.p.A., a portfolio company of Lone Star Funds, to finance Lone Star Funds' acquisition of N&W Global Vending S.p.A.
Advised the initial purchaser on the tap issue of £77.3 million senior secured notes due 2020, issued by Lake Bridge International PLC, a finance subsidiary of Global University Systems. Global University Systems is a leading private higher education provider based in the UK.
Advised Onorato Armatori S.p.A., on the issue of its €300 million senior notes due 2023. Onorato Armatori S.p.A. is a leading Italian ferry operator.