Addleshaw Goddard has acted for the Royal Bank of Scotland (arranger) and M&G Investments (mandated investor) on the first own-name debt capital markets issue by a Scottish registered social landlord.
The deal, which completed on 27 March 2014, saw Link Group issue £45m senior secured notes, which will be used to fund Link Group’s extensive and ongoing social-housing development programme.
Notwithstanding the Scottish domicile of the issuer, Link Group, the note purchase agreement and incidental bond documents were all governed by English law.
Addleshaw Goddard managing associate Gary Grigor led the transaction, assisted by Natalie Swales, under the supervision of Lee Shankland, head of housing finance.
Scottish law security advice to the investor was provided by Maclay Murray & Spens (Chris Dun).
Link Group was advised by Harper Macleod (Derek Hogg), with Burness Paull acting for Link Group on the Scottish law property-related matters.