LAWFUEL – Legal News Network – DLA Piper has advised Kaupthing Bank on its provision of £430 million for senior, mezzanine and working capital debt funding. This amount was utilised to fund the acquisition by Mosaic Fashions hf of Rubicon Retail Limited, and also to refinance both companies.
This was a significant transaction for Kaupthing Bank. It is the bank’s largest lead mandate arrangement in the leveraged sector to date.
The transaction involved the further consolidation of the retail scene on the high street, bringing together the likes of Oasis, Karen Millen, Coast, Whistles, Principles, Warehouse and The Shoe Studio Group in to the same stable.
The team at DLA Piper was led by banking partner John Cutler, assisted by senior associate, Brendon Pinch and solicitor, Michelle Tarpey.
John Cutler said: “This was a time-critical project that required first-rate project management. This is an area where DLA Piper have a proven capability. We are once again delighted to have been involved with Kaupthing Bank, for whom we have acted for a number of years.”