Slaughter and May is advising Spirit Pub Company plc in connection with a debt re-profiling proposal (the "Proposal"). Under the Proposal, holders of Spirit Issuer plc’s existing Class A1 and Class A3 Debenture Bonds are being invited to tender their existing Debenture Bonds for a consideration comprising new Class A6 and Class A7 Debenture Bonds (the "New Debenture Bonds") plus a payment in cash equal to the accrued interest on the tendered Debenture Bonds. The New Debenture Bonds will be listed on the Irish Stock Exchange and carry a higher coupon with a longer amortisation profile, providing the Spirit group with greater short and medium term financial flexibility.
 
CONTACTS

Financing: Guy O’Keefe (partner), Richard Jones (partner), Andrew Williams (associate), Abimbola Lawore (associate), Peter Field (associate), Rama Salih (associate); Tax: Sara Luder (partner), Tom Jarvis (associate), George Mitchell (associate)