The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
US duo Fried Frank Harris Shriver & Jacobson and Simpson Thacher & Bartlett have bagged leading roles on Virgin Media’s £1.5bn bond issue.
Capital markets partners Tim Peterson and Rob McBride are leading the Fried Frank team acting for longstanding client Virgin on the deal, part of an ongoing debt restructuring programme.
Simpson Thacher is acting for lead arrangers JPMorgan Cazenove and Goldman Sachs on the bond issue, with corporate partner Nicholas Shaw understood to be leading the team.
The bonds, whose total value was greater than had been widely predicted, were issued in two tranches - a $1bn US denominated portion issued by Virgin Media Inc and a £875m slice from Virgin Media Finance.
The UK denominated tranche is the largest-ever sterling high yield bond issue.
Virgin is expected to use the bond issue to refinance some of its estimated £4bn debt.
The senior secured notes are due in 2018, with the dollar notes carrying a 6.5 per cent interest and the sterling tranche paying at 7 per cent.
The deal is the latest in a string of transactions that could mark the return of the debt market, following Manchester United’s £500m bond issue and National Express’s £350m offering.