Voyage Care Completes £250 Million Notes Offering
02.03.22
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Simpson Thacher represented Voyage Care BondCo PLC, a direct wholly owned subsidiary of Voyage BidCo Limited (“Voyage Care”) and an indirect wholly owned subsidiary of VC Healthcare Topco Limited, a portfolio company of Wren House Infrastructure, in connection with a Rule 144A and Regulation S offering of £250 million in aggregate principal amount of 5⅞% Senior Secured Notes due 2027 and a new revolving credit facility. The transaction closed on February 3, 2022. Voyage Care used the net proceeds from the offering, together with cash on hand, to redeem in full £215 million in aggregate principal amount of its 5⅞% Senior Secured Notes due 2023 and £35 million in aggregate principal amount of its 10% Second Lien Notes due 2023 and to pay fees and expenses in connection with the foregoing.
Voyage Care is a provider of registered care homes with a significant presence in community based care services for adults and children with learning disabilities and other related complex and challenging support needs across the UK.
The Simpson Thacher team included Carol Daniel, Dominik Juster and Sean Park (Capital Markets); Antti Pesonen, Matthew Hope and Theon Richards (Credit); Meredith Jones, Gal Shemer and Beatriz Capeloa Gil (U.S. Tax); and Yash Rupal, Caleb McConnell and Sefia Jivraj (UK Tax).