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Travers Smith LLP has advised Paragon Bank plc (Paragon) on a senior debt facility provided to Liberis, a leader in alternative finance solutions.

Travers Smith LLP has advised Willis Pension Scheme on a longevity swap transaction with Munich Re to manage longevity risk in relation to circa £1 billion of pensioner liabilities. The arrangement covers pensions in payment in the Scheme and provides long term protection for the Scheme against additional costs resulting from pensioners or their dependants living longer than expected.

Travers Smith has advised long-standing client Livingbridge on its acquisition of the Chill Insurance Group (Chill Insurance), one of Ireland’s leading insurance and financial services groups.

Travers Smith LLP has advised long-standing client Horizon Capital and other selling shareholders on the sale of Connexas Group, a leading provider of connected vehicle technology and fleet management solutions throughout the UK, EU, North America and Australia, to AddSecure.

Travers Smith LLP has advised specialist investment firm Quilam Capital (Quilam) on the provision of a term loan to UK SME finance platform Rocking Horse.

Travers Smith LLP has advised Hungarian online insurance broker Netrisk, a company majority-owned by TA Associates, on its acquisition of Czech Republic-based brokerage Klikpojisteni.cz.

In this In Practice article Finance partner Donald Lowe and Knowledge Counsel James Bell examine the impact of COVID 19 on financial covenants. A borrower may seek to argue that financial ratios should be calculated on the basis of "EBITDAC", so that the effect of the Coronavirus is ignored.

The UK Government is under increasing pressure to set out how it proposes to manage a possible easing of the Covid-19 lockdown in order to allow more everyday activities to resume, particularly economic activity. The Prime Minister has urged caution, but we think it makes sense to look ahead to how the lockdown might be eased so that businesses can take appropriate steps to prepare.

This inaugural edition of Investment Insights for Pension Funds is devoted to the current economic crisis caused by COVID-19. Experts from across the firm share their insights on how companies are being affected, the actions they are taking, and the implications for investors.

Over the last 4 weeks, in the face of COVID-19 the worldwide economy has experienced the sorts of pressures not seen since the Great Depression. Businesses around the world have been forced to close their doors; we have seen government interventions which, only 3 months ago, would have been unthinkable; and terms such as "social distancing" and "furloughing" have become common parlance.

Travers Smith LLP has advised Ancala Partners (Ancala) on the acquisition on behalf of its European Infrastructure Fund II of a majority interest in Holmleigh Care Homes Limited (Holmleigh) from the founders Rod Correia and Matt Western who will continue to owner a minority interest in Holmleigh.

There have been increasing concerns in recent weeks that UK insolvency law does not accommodate the short-term impact of COVID-19 on many businesses. In response, the Business Secretary announced on 28 March that the UK's insolvency rules would be amended as part of the Government's wider business support package.

This briefing was updated on 26 March 2021.

The UK Government announced an unprecedented stimulus package to help support businesses in the wake of the COVID-19 outbreak. These measures, originally announced by the Chancellor of the Exchequer in his budget on 11 March 2020, have since been rapidly expanded.

Alternative assets have enjoyed an unprecedented level of growth over the last decade, which looks set to continue with global AUM growing from $8.8tn in 2017 to a projected $14tn in 2023¹.

Travers Smith LLP has advised TA Associates on its acquisition of Auction Technology Group (ATG) a leading online platform for auctions across Europe and the United States, from ECI Partners (ECI) and Proxibid, an online marketplace for connecting buyers and sellers across North America, from Primus Capital (Primus).

Travers Smith LLP has advised the structured lending team at Paragon Bank plc (Paragon) on the provision of a £25 million senior revolving credit facility to Nucleus Commercial Finance (Nucleus). The funding will be used by Nucleus to support small and medium sized enterprises (SMEs) through secured loans and property finance.

Our regular round-up of recent developments and topics for your radar, and news of planned training and networking events for in-house counsel in 2020.

Travers Smith LLP has advised Investec Bank plc on a £32 million term loan facility and £3 million revolving credit facility to be made available to a vehicle owned by The Carlyle Group (Carlyle) in connection with Carlyle's £91 million proposed acquisition of AIM-listed Harwood Wealth Management.

Travers Smith LLP has advised Adventurous Journeys Capital Partners (AJ Capital Partners) on its acquisition of the Macdonald Rusacks Hotel and the Macdonald Randolph Hotel from the Macdonald Hotels & Resorts portfolio.

Travers Smith LLP has advised August Equity LLP (August) and management on the sale of the Wax Digital Group (Wax) to Medius, a cloud-based invoice automation software provider backed by Marlin Private Equity.