Kirkland & Ellis International LLP represented The Carlyle Group and its portfolio company Mydentist, Europe’s largest vertically-integrated dental business and the United Kingdom’s number one dental practice chain, in the refinancing of Mydentist’s existing debt. This transaction, which closed on August 5, 2016, consisted of an offering of £425 million senior secured notes due 2022, the private placement of £130 million second lien notes due 2023 and the refinancing of Mydentist’s revolving credit facility.
This transaction constituted the first sterling-dominated high yield bond offering to price following the UK’s referendum on EU membership on June 23, 2016.
The Kirkland team that advised on this transaction was led by London-based capital markets partner Matthew Merkle and finance partners Kirsteen Nicol and Neel Sachdev. Assisting on the transaction were capital markets associates Tim Volkheimer, James Simpson, Corentine Delobel and Adam Karman, finance associates Richard Harmer and Charles Osborne, corporate partner Scott Gordon, corporate associate Drue Santora, tax partners Mike Carew and Dulcie Daly, and tax associates Michael Ward and Christine Lehman.