ARTICLE
3 October 2018

Milbank Advises Together Mortgages On Its £350M Senior PIK Toggle Notes Offering

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Milbank LLP

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Milbank LLP is a leading international law firm that provides innovative legal services from 12 offices around the world. Founded in New York over 150 years ago, Milbank helps the world’s leading commercial, financial and industrial enterprises, as well as institutions, individuals and governments, achieve their strategic objectives.
Milbank, Tweed, Hadley & McCloy LLP has advised Bracken Midco1 plc (the "Issuer") on the offering of its £350 million aggregate principal amount of 8⅞% / 10⅜% Senior PIK Toggle Notes due 2023.
United Kingdom Finance and Banking

Milbank, Tweed, Hadley & McCloy LLP has advised Bracken Midco1 plc (the "Issuer") on the offering of its £350 million aggregate principal amount of 8⅞% / 10⅜% Senior PIK Toggle Notes due 2023.

The proceeds from the offering have been used, among other things, to refinance the Issuer's Senior PIK Toggle Notes due 2021 issued in November 2016, to provide its shareholder with the funds required to redeem its outstanding loan notes and to make a distribution to its shareholder.

Together is a specialist UK finance provider offering a wide range of specifically designed products, including short-term finance, auction finance, residential, buy-to-let and commercial mortgages and secured loans through its established distribution network.

The Milbank team was led by London Leveraged Finance/Capital Markets partner Rebecca Marques, with special counsel Ana Grbec and associates Kenneth Ryan and Darell Hayes. The team also included New York Tax partner Andrew Walker and associate Archan Hazra, London Leveraged Finance associates Danielle Brown and Joseph Richmond, New York Alternative Investments Practice partner Catherine Leef Martin and associate Megha Kalbag and London Corporate associate Cormac Kerins.

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