Tracy Liu

Tracy’s representative transactions include advising:

Amend and Extend/Refinancings

• J.P. Morgan as arranger on the cross-border US$130 million term loan B credit facility and SEK2.1 billion sustainability-linked revolving credit facility for Oatly Group
• Goldman Sachs, J.P. Morgan, and UBS as arrangers of the refinancing of Ammega
• The arrangers of the revolving facility and senior secured notes refinancing of Energia Group
• HSBC and J.P. Morgan as arrangers of the refinancing of Archroma
• Goldman Sachs as arranger of the refinancing of ASK Chemicals 
• The Double Negative group, a leading visual effects and animation studio, on its refinancing and subsequent additional debt raise
• The arrangers on the refinancing of Antin Amedes, a specialty pharmaceutical company, and subsequent repricing 
• The arrangers on repricing CVC portfolio company Etraveli
• Agro Merchants Group on its global refinancing
• The arrangers on Albéa Beauty Group’s refinancing and the subsequent repricing in connection with PAI Partners’ acquisition of the group

Take-Private Financing

• The arrangers and the underwriters of the financing relating to the recommended offer for Clinigen Group by Triton
• Certain arrangers on the £6.6 billion term loan B, revolving credit, and high yield bridge facilities for CD&R’s take-private acquisition of Wm Morrison Supermarkets PLC
• The arrangers on the €2.1 billion financing of CVC’s take-private of Ahlsell AB

Leveraged Finance (Syndicated Loans / Bank Loans)

• The arrangers and the underwriters of the financing relating to the acquisition of the Element Materials by Temasek from Bridgepoint
• The arrangers on the financing for Macquarie Infrastructure’s acquisition of Beauparc
• The arrangers on the financing for Partners Group’s acquisition of Rovensa, an Iberian crop-protection company, from Bridgepoint
• The arrangers on the financing for Antin Infrastructure Partner’s acquisition of Babilou nurseries
• The arrangers on the US$3.3 billion financing for CVC and Messer Group’s acquisition of Linde and Praxair’s gas businesses in North and South America
• The arrangers on the €1.1 billion financing for Partners Group’s acquisition of Ammeraal Beltech Group, a Dutch conveyer belt manufacturer, and Megadyne Group, an Italian maker of transmission belts
• Goldman Sachs, as second-lien lender, on Thomas H. Lee’s acquisition of the Autostore Group
• The arrangers on the €375 million financing for Stonepeak Infrastructure Partners’ acquisition of the euNetworks Group, a bandwidth infrastructure services provider in Europe
• CVC on the financing to acquire Breitling, the Swiss luxury watchmaker, and subsequent dividend recap, repricing, and refinancings
• The arrangers on the financing for Advent’s acquisition of Færch Plast
• The arrangers on the €2.4 billion financing for Advent-owned Oberthur Group’s refinancing and acquisition of the Morpho Group
• The arrangers on the financing for BC Partners’ acquisition of the Pronovias Group
• The arrangers on the financing for BC Partners’ acquisition of Keter Plastic, and incremental and bolt-on transactions
• EQT on the financing in connection with acquiring Sitecore 
• The arrangers on the financing for Investindustrial’s acquisition of the Italcanditi Group
• The arrangers on the €390 million financing for Investindustrial’s acquisition of the HTL Strefa Group

Leveraged Acquisition Finance (Bank/Bond)

• The arrangers in connection with the super senior revolving facility and senior secured bond financing of the acquisition of Polynt-Reichhold by Black Diamond
• The arrangers on the financing for Advent, Cinven, and RAG’s acquisition of thyssenkrupp’s elevator business
• The Carlyle Group on the revolving credit facility and senior secured bond offering to acquire F-Brasile, a manufacturer of steel rings for aircraft engines and other industrial components
• The Carlyle Group and Investindustrial on the revolving credit facility and senior secured bond offering for their joint venture in respect of Flos, B&B, and Louis Poulsen

Private Credit Financings

• The lenders with respect to the financing on the acquisition of a French group in the cosmetics industry
• The lenders on the financing for InvestIndustrial’s acquisition of the Neolith Group
• Nordic Capital on its financing to acquire the European Dental Group
• Pemberton on the financing for CapVest’s acquisition of the Core Assets Group
• Pemberton on the financing for CapVest’s acquisition of the Karro Group

Special Situations

• The ad hoc group of senior lenders to Vue Cinemas in relation to its c. €1 billion debt and equity restructuring
• The senior creditors committee in relation to the c. £620 million debt and equity restructuring of Doncasters Group, the UK-headquartered international manufacturer of high-precision alloy components

Emerging Markets / Investment Grade Finance

• J.P. Morgan as arranger in connection with the financing supporting 41G’s acquisition of Vodafone Hungary