The Very Group Secures Private Placement and Credit Facility
Deal News | Apr 16, 2025 | Paul Hastings
Paul Hastings LLP advised The Very Group, a leading online-only non-food retailer in the UK, on a significant financial transaction involving the private placement of 598 million euros in senior secured notes and commitments for a 150 million euro super senior revolving credit facility. This move will help The Very Group redeem its existing senior secured notes. The transaction, led by partners Patrick Bright and Peter Hayes from Paul Hastings, is subject to customary conditions and reflects the firm's expertise in managing complex financial deals. Paul Hastings operates with elite teams across 17 core practices, renowned for their superior execution in serving investment banks, asset managers, and corporations globally.
Sectors
- Retail
- Financial Services
- Legal Services
Geography
- United Kingdom – The Very Group is based in the UK, and the transaction is related to its operations.
- Global – Paul Hastings, as a global law firm, is involved in the transaction, indicating the international scope of the services provided.
Industry
- Retail – Involves The Very Group, a major UK-based online-only non-food retailer.
- Financial Services – The Very Group is also a leading consumer finance provider, engaging in financial structuring through private placements and credit facilities.
- Legal Services – Paul Hastings provides legal advisory services in connection with financial transactions.
Financials
- €598 million – Aggregate principal amount of senior secured notes placed.
- €150 million – Amount secured as super senior revolving credit facility.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| The Very Group | Target Company | Company | The UK's largest domestic integrated online-only non-food retailer and leading consumer finance provider. |
| Paul Hastings LLP | Legal Advisor | Company | A premier law firm advising The Very Group in this financial transaction. |
| Patrick Bright and Peter Hayes | Lead Legal Advisors | People | Partners at Paul Hastings who led the legal team advising The Very Group. |