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12 May 2011 12:00
Eversheds brews a major financing agreement for Greene King
International law firm Eversheds has advised leading pub retailer and ale brewer Greene King in relation to a £400m debt facility, enabling it to refinance its existing debt facilities. The new financing was provided by a syndicate of banks.
Founded in 1799 by Benjamin Greene, Greene King has been brewing beer and operating pubs for over 200 years. Its beers include Greene King IPA, Old Speckled Hen, Belhaven Best and Abbot Ale. Its pub company is now the third fastest growing managed pub business in the UK. The company plans to grow its managed pubs and restaurants business to about 1,100 outlets from 900 over the next five years.
The Eversheds team was led by partner David Boyd, who was assisted by solicitor Michelle Wallis.
David Boyd commented:
“Eversheds has worked with Greene King for a number of years but this is the first time we have acted for it on a major financing. It is very satisfying to work on a transaction of this nature and demonstrates that there continues to be bank appetite for strong corporate credits. We look forward to assisting them with future matters.”
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Eversheds LLP
Eversheds LLP and its world wide offices have over 4,500 people who provide services to the private and public sector business and finance community. Access to all these services is provided through 45 international offices in 28 jurisdictions. Eversheds combines local market knowledge and access with the specialisms, resources and international capability of one of the world's largest law firms.
www.eversheds.com
