Allen & Overy represented Credit Suisse as lead arranger in connection with the $250 million acquisition financing for the Jersey-based European exchange-traded commodity, currency and short-and-leveraged business of ETF Securities by WisdomTree Investments, Inc. (NASDAQ: WETF). The financing consists of a $200 million term loan A and a $50 million revolving credit facility.
WisdomTree Investments, Inc., through its subsidiaries in the U.S., Europe, Japan and Canada (collectively, “WisdomTree”), is an exchange-traded fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset manager headquartered in New York. WisdomTree offers products covering equities, fixed income, currencies, commodities and alternative strategies. WisdomTree currently has approximately $63.4 billion in assets under management globally.
ETF Securities is one of the world’s leading innovators of exchange-traded products (ETPs) and provides specialist investment solutions across multiple asset classes to investors around the world, enabling them to intelligently build and diversify their portfolios. The company is the largest provider of commodity ETPs in Europe, having created the world’s first gold ETP in 2003. The company’s range of European commodity, currency and short-and-leveraged ETPs has a total AUM of US$17.6 billion, as of April 10, 2018.
The A&O New York Leveraged Finance team was led by partner Alan Rockwell and included associates Jonathan Homer and Daniel Cherif.