Freshfields Bruckhaus Deringer has advised an ad-hoc committee of first lien lenders in relation to the £930m restructuring of the PHS group.

Under the restructuring, the lenders have carried out a debt for equity swap implemented pursuant to a scheme of arrangement.

The Freshfields team was led by London finance partners Ryan Beckwith, Sean Lacey and Richard Tett and corporate partner Gareth Stephenson, alongside senior associate James Watson.