leveraged buy-outs

Leveraged buy-outs involve the purchase of a company (or its trade), usually by a newly formed company which is financed to a large extent by debt finance which is usually secured on the assets of the target company.

These types of transaction call on a range of corporate legal skills, all of which we possess at White & Black.  Our team can advise on the underlying acquisition, the banking aspects of the debt finance and on the law of private equity in relation to any equity finance.  We are able to negotiate complex inter-creditor arrangements, facility agreements, security documents and acquisition documents.  We can advise both private and public limited companies (where, in the case of the latter, the financial assistance restrictions continue to apply) and their funders as well as management teams, buyers and sellers in relation to the underlying buy-out.

At White & Black we can assist with all aspects of leveraged buy-outs including:

• data-rooms
• auctions
• FSA issues
• financial assistance regulation (public companies)
• term sheets
• due diligence
• equity terms and structure
• debt finance terms and inter-creditor arrangements
• security arrangements
• corporate governance issues