Macfarlanes and Allen & Overy (A&O) have scored roles as care home operator Four Seasons Healthcare restructured its £1.5bn debt pile after more than a year of negotiations with lenders. The deal, which signed last week (28 October), saw some 30 lenders agreeing a debt-for-equity swap that effectively halves Four Seasons' debt to around £780m and leaves primary lender Royal Bank of Scotland (RBS) with a 40% stake in the company.
October 07, 2009 at 08:04 PM
1 minute read
The original version of this story was published on Legalweek
Macfarlanes and Allen & Overy (A&O) have scored roles as care home operator Four Seasons Healthcare restructured its £1.5bn debt pile after more than a year of negotiations with lenders.
The deal, which signed last week (28 October), saw some 30 lenders agreeing a debt-for-equity swap that effectively halves Four Seasons’ debt to around £780m and leaves primary lender Royal Bank of Scotland (RBS) with a 40% stake in the company.
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