Stonegate Completes £120 Million Senior Secured Notes Offering
12.07.20
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Simpson Thacher represented Stonegate Pub Company Financing 2019 plc (“Issuer”), a wholly owned subsidiary of Stonegate Pub Company Limited (“Stonegate”), a TDR portfolio company, in connection with its Regulation S private placement of £120 million in aggregate principal amount of 8.25% Senior Secured Notes due 2025 (“Additional Notes”). The private placement closed on December 1, 2020. The Additional Notes constitute a further issuance of the Issuer’s 8.25% Senior Secured Notes due 2025 issued on July 31, 2020.
Stonegate will use the net proceeds for additional liquidity and general corporate purposes. Stonegate is the largest pub company in the United Kingdom based on the number of sites.
The Simpson Thacher team included Nick Shaw, Uma Sud, John Lim and Surya Bala (Capital Markets); Stephen Short, Gert Raig, Sophie Davies and Jia Meng (Credit); and Meredith Jones and Gal Shemer (Tax).