Overview

Paul Tannenbaum is a partner in the Banking & Finance practice of the London office. He has extensive experience acting for lenders, borrowers and financial institutions on both fund financings and acquisition and leveraged finance transactions.

Paul’s fund finance experience includes a wide range of transactions including traditional subscription lines, hybrid (NAV) facilities, GP support facilities, loans to separate accounts and fund of fund financings.

In addition, Paul has worked on a number of mid-market leveraged finance transactions in recent years, acting for UK and international lenders (including credit and debt funds) and sponsors on a variety of UK domestic and cross-border leveraged finance transactions, including private equity-backed leveraged buy-outs, management buy-outs/buy-ins, public bids, corporate M&A and recapitalisations.

Experience

Selected deals in the last five years, prior to joining Mayer Brown include:

Funds Finance

  • Advised Lloyds on the provision of a €75 million revolving credit and bridge facility to a leading European debt fund.
  • Advised Lloyds on a number of revolving credit and bridge facility for a leading European debt fund’s “fund of one” structures, governed by a common terms agreement.
  • Advised RBS on the provision of a €125 million revolving credit and bridge facility agreement to a leading European debt fund.
  • Advised Lloyds in relation to a €250 million capital call facility to a leading European private equity fund.
  • Advised RBS in relation to a €275 million investment bridge facility to a leading European private equity fund.
  • Advised a leading European debt fund on its €125 million, US$95 million, £135 million and ¥2.5b revolving credit and bridge facilities entered into with a bank club.
  • Advised a UK mid-market private equity fund on its uncommitted revolving credit and bridge facility and its subsequent upsized facility.
  • Advised a global renewable power fund on its US$300 million revolving credit and bridge facility.
  • Advised a leading European debt fund on its €35 million revolving credit and bridge facility made available to a single managed account.
  • Advised an infrastructure fund in relation to revolving credit facilities made available to its European and UK funds.
  • Advised an infrastructure fund on their suite of revolving credit and bridge facilities.
  • Advised a leading European debt fund on facilities made available to its suite of single managed accounts.

Leveraged Finance

  • Advised BNP Paribas with regard to the £233 million financing of Ontario Teachers’ Pension Plan’s acquisition of Burton’s Biscuit Company.
  • Advised Ares Capital Europe, Lloyds, RBS and Santander on the senior and second lien facilities in relation to Duke Street’s acquisition of a majority stake in Parabis - the first LBO of a law firm.
  • Advised Hayfin, Intermediate Capital Group, HSBC and Bank of Ireland with regard to the US$125 million unitranche and super senior facilities provided to HgCapital owned Ullink to fund its acquisition of Nyfix.
  • Advised RBS with regard to the financing of Five Arrows Principal Investments’ acquisition of Datix.
  • Advised HSBC, Babson Capital and GE Capital with regard to the financing of Five Arrows Principal Investments’ and Bowmark Capital’s acquisition of Autodata.
  • Advised Ares Capital GE Capital and Barclays on the debt purchase and unitranche and super-senior facilities made available to a leading UK holiday group.
  • Advised Barclays, HSBC, Bank of Ireland and GE Capital on facilities made available to the Tinopolis Group for the multiple acquisitions of Arthur Smith Productions and Base Productions and Magical Elves and subsequent refinancing.
  • Advised Five Arrows Principal Investments, as sponsor, in the financing of its acquisition of Pirum Systems.
  • Advised Barclays, HSBC, Babson Capital, RBS and Bank of Ireland with regard to the cUS$ 150 million refinancing of Equistone Partners’ portfolio company The Mill.
  • Advised Ares Capital and HSBC with regard to the £77.5 million unitranche and super senior facilities provided to August Equity in relation to the combination of LM Funerals and Funeral Services Partnership.
  • Advised ING, HSBC, Societe Generale, GE Capital and Santander on facilities made available for Castik Capital’s original £122.6m public to private acquisition of Waterlogic Plc and subsequently advising the underwriters and bookrunners (ING, HSBC, Société Générale and SMBC) on the c.£250 million sterling equivalent multi- currency loans, including a new Term Loan, for the financing of Waterlogic’s acquisition of PHS Waterlogic, the water cooler division of PHS Group.
  • Advised Permira Debt Managers with regard to the £46 million unitranche and super senior facilities provided to Primary Capital owned Paperchase.
  • Advised Intermediate Capital Group as lender in connection with the £132 million unitranche and super senior facilities refinancing and merger of Leaders Lettings and Romans, portfolio companies of mid-market private equity firm Bowmark Capital.
  • Advised Permira Debt Managers with regard to the £30 million financing of Sovereign Capital’s management buy-out of Eaton House Schools Group.
  • Advised AEA Investors on the issue of a DKK 375 million three-year senior secured bond for the purposes of the acquisition of Scan Global Logistics and TransGroup WorldWide Logistics from BWB Partners.
  • Advised Five Arrows Principal Investments, as sponsor, in the £114.6 million refinancing of its portfolio company Kisimul Schools Group.
  • Advised Five Arrows Principal Investments, as sponsor, in the €187.5 million unitranche and super senior facilities refinancing of its portfolio company PS Healthcare Services.
  • Advised Five Arrows Credit Solutions on the £32.5 million unitranche and super senior facilities provided to Exponent Private Equity owned Wowcher.
  • Advised Permira Debt Managers with regard to the £70 million unitranche refinancing of LDC’s portfolio company Away Resorts and the financing of its acquisition of Sandy Balls Estate.
  • Advised funds managed by HPS Investment Partners, together with funds managed by Elliott Management, in the purchase of $875 million of preference shares to provide financing in support of the US$2.03b acquisition of DH Corp., a public Canadian financial services company by Misys Ltd., a UK portfolio company of Vista Equity Partners.
  • Advised funds managed by HPS Investment Partners and Park Square Capital in the purchase, together with GIC, of US$560 million preference shares to provide a portion of the overall financing to support the US$4.3b take private of Nord.
  • Anglia Education (a NYSE-listed, Hong Kong-based operator of international schools) by Bach Finance Limited, a company owned by Canada Pension Plan Investment Board and funds affiliated with Baring Private Equity Asia.
  • Advised Permira Debt Managers with regard to the $105 million unitranche and super senior facilities financing of G Square Capital’s acquisition of Duomed.
  • Advised Permira Debt Managers with regard to the £46 million unitranche and super senior facilities financing of MML Capital’s acquisition of Computer Systems Integration Group .
  • Advised Alcentra on a EUR and GBP untranche financing for the acquisition of the arwe Group by BIP Investment Partners.
  • Advised Permira Debt Managers with regard to the £46 million unitranche and super senior facilities refinancing of Bridgepoint Development Capital’s portfolio company Cruise.co.uk and the financing of its acquisition of Kreuzfahrtberater.de. Sponsor.
  • Advised Francisco Partners, as sponsor, in the cUS$300 million unitranche and super senior facilities refinancing of its portfolio company BluJay Solutions.
  • Advised XIO Group, as sponsor, in the US$245 million unitranche refinancing of its portfolio company Lumenis.
  • Advised Permira Debt Managers on the financing for the £180 million acquisition of loveholidays by Livingbridge.
  • Advised HPS on the hard staple financing for the sale of PS Healthcare Services by Five Arrows Principal Investments.
  • Advised BlueBay Asset Management on the €77.5 million term loan facilities for Naxicap’s acquisition of Teufel.

Education

BPP Law School, LPC

BPP Law School, GDL

University of Leeds, BA (Hons)

Admissions

  • England and Wales