Latham
& Watkins advised Goldman Sachs International and HSBC as initial
purchasers of senior secured notes, placement agents, and revolving credit
facility (RCF) banks, on McLaren Group Limited (McLaren) raising US$620 million
of Senior Secured Notes from institutional investors, £400 million of capital
in the form of Preference Shares and Warrants from the Private Equity and
Credit Groups of Ares Management Corporation and Public Investment Fund of
Saudi Arabia, an additional £150 million of capital in the form of Convertible
Preference Shares from existing shareholders and a limited number of new
private investors, and a new RCF from a group of international banks.
The
cross-practice Latham team advising the banks as initial purchasers of senior
secured notes was led by London partner Brett Cassidy with associates Patrick
Kwak and Kelsey Glover; as placement agents of senior preference shares &
warrants and of convertible preference shares by London partners Sanjev
Warna-kula-suriya and Chris Horton, with associates Chris Armstrong and Koushik
Prasad; and as the arrangers and lenders in relation to the revolving credit
facility by London partner Mo Nurmohamed with associates Robert Davidson,
Philipp Hagenbuch, and Alexander Law. Regulatory advice was provided by London
financial regulation partners Rob Moulton and Nicola Higgs.