London – LAWFUEL – The Law Newswire – DLA Piper has advised Lloyds TSB and Intermediate Capital Group (“ICG”) on their provision of £205,000,000 senior debt and £50,000,000 of mezzanine debt respectively, utilised in connection with ICG’s £430,000,000 secondary buy-out of the Marken Group.
Both Lloyds TSB and ICG are existing clients of DLA Piper.
The DLA Piper team acting for Lloyds TSB was led by banking partner Peter Crichton. He was assisted by Howard Bruton and Ali Akbar. The team acting for ICG was led by banking partner John Cutler. It included of counsel, Hugo Virag-Lappas in DLA Piper’s Paris office and banking partner, Jennifer Homer in the US.Commenting on the deal Peter Crichton said:
“DLA Piper advised Lloyds TSB and ICG on their debt provision for the initial buy-out of the Marken Group in March 2006, and then acted for them again on their provision of refinancing facilities earlier this year. When the secondary buy-out was proposed, we were delighted to be re-instructed by both parties.”
“DLA Piper has worked with both Lloyds TSB and ICG for many years and we were very pleased to be able to advise them on this exciting transaction.”
John Cutler said: “This transaction proved to be exceptionally time-critical, involving both DLA Piper’s London and Paris offices and requiring first-rate project management.”