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Travers Smith LLP has advised Shawbrook Bank (Shawbrook) and Hampshire Trust Bank (HTB) on a facility upsize to Newble Commerce. 

This article was first published in the October 2024 issue of Butterworths Journal of International Banking and Financial Law.

Our round-up of recent and forthcoming developments in UK law and practice for our international stakeholders.

Our regular round-up of recent and forthcoming developments in law and practice for in-house counsel.

Travers Smith LLP has advised Chrysalis Investments Limited (Chrysalis) on a £70 million NAV facility provided by Barclays Bank.

Travers Smith LLP has advised OakNorth Bank plc ("OakNorth") on a new £40 million NAV revolving facility agreement (the "RCF") to Literacy Capital Plc ("Literacy"), a listed investment trust primarily focused on investing directly into private, UK-based businesses.

Travers Smith LLP has advised longstanding client Inflexion on the financing of its investment in Tierarzt Plus Partner (TPP), Germany’s largest group of veterinary practices. 

Travers Smith LLP has advised longstanding client Inflexion on its investment in Cutwel, the leading UK specialist cutting tool distributor, alongside the management team led by Adam Gillard. 

Travers Smith LLP has advised Inflexion on the refinancing of Celnor Group Limited (Celnor), with new senior facilities made available by Ares. Celnor is a specialist provider of testing, inspection, certification, and compliance (TICC) services and this new funding will support the business throughout its ambitious growth strategy.

Travers Smith has advised vertical farm operator GrowUp on its £38m debt and equity investment from investment firm Generate Capital. 

On 25 July 2024 the Institutional Limited Partners Association ("ILPA"), the trade body for institutional limited partners in the private equity industry, issued its much anticipated Guidance for Limited Partners and General Partners in respect of NAV-based facilities (the "Guidance").

Travers Smith LLP has advised longstanding client AshbyCapital (Ashby) on the refinancing of its retail park portfolio, including a c.£82 million loan from existing lender Deutsche Hypo.

Travers Smith LLP has advised established carpet and flooring retailer Carpetright and its administrators on the pre-pack administration sale of its business and certain of its assets to CWHP Limited, part of the Tapi group. 

This article was first published in the July 2024 issue of Butterworths Journal of International Banking and Financial Law.

In this article Knowledge Counsel James Bell looks at issues to consider when protecting the guarantor’s position in finance transactions (or indeed other commercial transactions) and how that might be negotiated.

Travers Smith LLP has advised client Long Ridge Equity Partners ("Long Ridge") on its investment in QX Global Group ("QX"), a leading provider of business process management services.

Travers Smith LLP has announced today the hire of Ryan Ayrton as an infrastructure debt partner in the Finance team, further strengthening its cross-practice Infrastructure sector group. 

Travers Smith LLP has advised BES Group, a portfolio company of Inflexion, on the upsizing of its secured credit facilities, with Barings, Park Square Capital and SMBC Bank International as joint lenders. 

Travers Smith has advised long-standing client, Terrapinn, the global media and events company on the acquisition of ARABLAB LIVE, the Middle East's premier exhibition for the community of laboratory users the chemical, energy, medical, biotech, food and environment industries.

Travers Smith LLP has advised RSK Group Limited ("RSK") on a £500 million preferred equity investment from a consortium led by Searchlight Capital Partners, L.P. and Ares Management Corporation funds. The Travers Smith team also advised on an additional incremental £300 million debt facility commitment by Ares to further support RSK's growth plans. 

Travers Smith LLP has announced today the promotion of six lawyers to its partnership, with effect from 1 July 2024.