Latham Advises HPS Investment Partners on £485 Million Refinancing for Saga PLC

Latham & Watkins has advised HPS Investment Partners LLC, as lender, on the £485 million refinancing of Saga plc, the UK's specialist in products and services for people over 50. 

The new credit facilities, which will refinance the Saga’s corporate debt in full, include a £335.0 million term loan facility; a £100.0 million delayed-draw term loan facility; and a £50.0 million revolving credit facility.

The Latham team was led by private credit partners Stelios Saffos, Peter Sluka, Fergus Wheeler, and Paul Yin, with associates Nicolle Odutoye and Cedric Oulai. Additional advice on tax matters was provided by London partner Aoife McCabe, with associate Isabella Wong; on pensions matters by associate Paul Lawrence; and on intellectual property matters by associate Brett Shandler.