Travers Smith LLP has advised Auction Technology Group PLC (ATG) on the $200 million refinancing of its Senior Term and Revolving Credit Facilities.
ATG is a Main Market listed operator of world-leading marketplaces for curated online auctions. The new facility, provided by a syndicate of five lending banks, has a four-year term, with a one-year extension option, and replaces the previous facilities which were due to mature in 2026.
The Travers Smith team previously advised ATG on its highly successful £600 million Main Market IPO and on its $525 million acquisition of LiveAuctioneers. We also previously advised TA Associates on the pre-IPO acquisition and related financing of ATG.
Finance Partner Donald Lowe commented: "We are delighted to have had the opportunity to advise long-standing client ATG on its successful refinancing, building on our existing relationship and understanding of their financing arrangements. The new facility demonstrates the confidence of ATG's lenders and will support ATG's ongoing strategic initiatives."
The Travers Smith team was led by Finance Partner Donald Lowe, Senior Associate Jody Coleman and Associate Arjun Dwesar.