Conyers provided Cayman Islands legal advice to longstanding client Stonegate Pub Company (“Stonegate”) in connection with its Rule 144A and Regulation S offering of an aggregate amount of US$1.57 billion senior secured fixed rate notes due 2025. This was the largest bond issuance program in the UK since Virgin Media issued £1.1 billion pounds of senior secured notes in 2013.
Stonegate is owned by TDR Capital which runs well-known high-street chains including Walkabout and Slug & Lettuce. Conyers has provided legal advice to Stonegate since its inception.
Partner Matthew Stocker and Counsel Alex Davies from Conyers’ Cayman office advised on the matter working with Simpson Thacher Bartlett LLP (London) and Kirkland & Ellis LLP (London).