The Very Group Secures €598 Million in Notes Placement

Deal News | Apr 16, 2025 | Paul Hasting

Paul Hastings LLP has advised The Very Group, the U.K.'s largest domestic online-only non-food retailer and leading consumer finance provider, in securing a €598 million private placement of senior secured notes. Additionally, the company has entered into a commitment for a €150 million super senior revolving credit facility. This financial move aims to redeem The Very Group's existing senior secured notes. The deal, subject to customary closing conditions, underscores The Very Group's strategic financial repositioning. Lead partners at Paul Hastings included Patrick Bright and Peter Hayes, supported by numerous other legal professionals. Paul Hastings is known for its leading role in providing high-level legal advice globally.

Sectors

Retail
Financial Services
Legal Services

Geography

United Kingdom – The Very Group is based in the U.K., where it operates as a leading online retailer and finance provider.
Global – Paul Hastings LLP is an international law firm with a global footprint, advising on transactions worldwide.

Industry

Retail – The Very Group operates in the U.K. as a significant player in the online-only non-food retail sector.
Financial Services – The Very Group is noted as a leading provider in consumer finance, which is integral to their business model.
Legal Services – Paul Hastings LLP, a premier law firm, provides specialized legal advisory services in this transaction.

Financials

598 million – Aggregate principal amount of senior secured notes placed in private placement.
150 million – Super senior revolving credit facility commitments entered into by The Very Group.

Participants

Name	Role	Type	Description
The Very Group	Target	Company	The Very Group is the U.K.'s largest domestic online-only non-food retailer and a leader in consumer finance.
Paul Hastings LLP	Legal Advisor	Company	Paul Hastings is a premier law firm providing elite legal advisory services globally.