<p>Filter Knowledge</p>

Travers Smith LLP has advised Auction Technology Group PLC (ATG) on the $200 million refinancing of its Senior Term and Revolving Credit Facilities. 

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 long-standing client Macquarie Capital Principal Finance (Macquarie Capital) on the refinancing of Matrix Networks Group (Matrix), a leading provider of specialist utility infrastructure in the UK. 

Travers Smith LLP has advised Red Oak Taverns (Red Oak) on the refinancing of their current debt facilities with HayFin with new facilities from OakNorth Bank (OakNorth).

Travers Smith LLP has advised long-standing client Inflexion on the refinancing of CNX Therapeutics (CNX) with a new debt facility from credit funds managed by global alternative investment manager Ares Management (Ares).

Travers Smith LLP has advised long-standing client Livingbridge on the refinancing of loveholidays' debt facilities provided by a senior bank club.

Travers Smith LLP has advised long-standing client Inflexion on the refinancing of Times Higher Education (THE), a leading provider of university data, rankings and content.

Travers Smith LLP has advised long-standing client Shepherd Neame on the refinancing of its debt facilities.

Travers Smith LLP has advised shareholders Basalt Infrastructure Partners (Basalt) and Fiera Infrastructure (Fiera) on the refinancing of UK ferry operator Wightlink.

Travers Smith LLP has advised longstanding client Safestore Holdings plc and its French business Une Pièce En Plus on a refinancing of its debt facilities.

In this briefing we explore the risk that a lender might renege (voluntarily or involuntarily) on its funding commitments. We touch on the different types of lender entities in the market currently and examine why there are often different reasons behind such a failure to fund.

Travers Smith LLP has advised Atalaya Capital Management (Atalaya) on the provision of an up to £120 million revolving credit facility to TAB, a specialist real estate finance provider. 

Travers Smith has advised Investec Bank plc and Silicon Valley Bank on the refinancing of Bright Data's existing debt facilities and the provision of a secured term facility for its dividend recapitalisation.

Travers Smith LLP has advised Volex plc (Volex), the global integrated manufacturing and power product specialist, on the refinancing of its existing $100 million revolving credit facility. The new facility completed with a syndicate of five banks consists of a $200 million committed facility structured as a $125 million revolving credit facility and a $75 million term loan, with an additional $100 million uncommitted accordion, increasing Volex's capacity for investment in future growth.

Travers Smith LLP has advised RSK Group (RSK), the UK’s largest privately-owned multi-disciplinary environmental business, on £1 billion of available debt facilities made available by leading global alternative investment manager, Ares Management Corporation (Ares). Ares is the sole unitranche lender for this transaction which marks the largest private credit-backed sustainability-linked financing to date, with an additional £40 million of day-one revolving debt provided by National Westminster Bank plc (NatWest) to further support RSK's working capital requirements.

Travers Smith LLP has advised long-standing client Breedon Group plc (Breedon) on the £350 million refinancing of its existing debt facilities.

Travers Smith LLP has advised longstanding client Safestore Holdings plc and its French business Une Pièce En Plus on a refinancing of its debt facilities.

Travers Smith LLP has advised professional rugby union club Leicester Football Club plc (aka Leicester Tigers) on a structured financing package including new facilities from HSBC Bank, major shareholders and the Government's Sport Winter Survival Package.

Travers Smith LLP has advised Volex plc (Volex), a global provider of integrated manufacturing services and power products, on a three-year $100 million multi-currency revolving credit facility.

Travers Smith LLP has acted for long-term client Hydrogen Group plc (AIM:HYDG) on a novel tender offer structure through which the Company is proposing to de-list on AIM and to provide a cash exit to shareholders by buying back up to 56% of its issued share capital.