Boparan Holdings Completes Successful Refinancing

November 30, 2020

London – Paul Hastings LLP, a leading global law firm, announced today that it has represented Boparan Holdings Limited and its group, in connection with the refinancing of their existing senior notes and existing term and revolving loans by way of the issuance of £475 million of senior notes, issued by Boparan Finance plc. Paul Hastings has also assisted Boparan Holdings Limited as borrower in connection with its £90.0 million super senior revolving facility.

This transaction is the last step in the group refinancing effort, in which the Paul Hastings team played a central role. Over the past three years, the firm has advised the Boparan group on various financing matters, including bridge financing for the sale of assets, the redemption of their £250 million 5.25% Senior Notes due 2019 and the company’s revolving facility and an additional short-term loan, each of which have been repaid in connection with the refinancing.

Peter Towner, director of tax, treasury and investor relations for Boparan Holdings Limited, said about the transaction that it “Yet again cements Paul Hastings’ ability to deliver for the Group. Supportive, flexible and ultimately commercial. A huge thank you to Peter Schwartz and his team. Would recommend Paul Hastings to any corporate issuer”.

Boparan Holdings Limited is the parent company for 2 Sisters Food Group with headquarters in Birmingham, a leading food manufacturer with strong market positions in Poultry, Meals and Bakery categories.

The Paul Hastings team in London was led by partners Peter Schwartz, Luke McDougall and David Ereira, with associates Riccardo Maggi Novaretti, Ludovico Giannotti, Andro Atlaga and Lorenzo Colombi-Manzi assisting.



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