Kirkland & Ellis advised Lutech, an Apax portfolio company, in connection with its offering of €400 million in aggregate principal amount of senior secured notes due 2031, according to a May 28 announcement. The proceeds from the offering were used by Lutech to redeem in full the outstanding principal amount of its existing notes due 2027, repay outstanding amounts under its existing term loan, fund a distribution to shareholders, and pay costs, fees and expenses related to the transactions. The transaction closed on May 19.
In addition to advising on the note offering, Kirkland also assisted Lutech with amending and extending its senior secured revolving credit facility.
The Kirkland team working on these transactions included capital markets lawyers Marwa Elborai, Luca Meneghini and Eva-Luna Slingerland; debt finance lawyers Ian Barratt, James Collins, Marco Convertini, Alice Mackenzie and Lucy Williams; tax lawyers Sara Zablotney, Joseph Tootle and Anna Gleason; and investment funds regulatory lawyer Josh Westerholm.
Lutech is part of Apax’s portfolio. The refinancing is intended to support ongoing operations as well as provide liquidity for shareholders.
