King & Wood Mallesons has advised First Names Group on the refinancing of its existing funding package.

With over 700 employees across fourteen strategic locations, First Names Group is a leading independent provider of trust, fund, real estate and corporate administration services.

The existing facilities were refinanced by way of unitranche and super senior revolving facilities. The security package for the refinancing was multi-jurisdictional, including Isle of Man, Jersey, Guernsey, Bermuda and Cyprus.

The transaction was secured after a period of accelerated growth and the new facilities will bring long-term sustainable financing opportunities to First Names Group, which are in line with the business’s strategic objectives.

Eric Fady, Chief Financial Officer at First Names Group, commented, “We were very pleased to work with King & Wood Mallesons on this deal. The new financing model will help us achieve our future inorganic growth plans and provide us with the funds needed to continue to invest in our people and infrastructure, as we strive to create one of the best places to work and do business within the industry.

Hitesh Gupta, Managing Director at AnaCap Financial Partners LLP, further commented, “King & Wood Mallesons provided valued counsel on this recapitalisation. We believe this transaction is a testimonial to First Names Group’s strong growth and profitability since its Management buyout in 2012 supported by AnaCap and to its leading position in the international fiduciary services space.”

Lorraine Vaz, Finance partner, said, “We are delighted to have advised First Names Group on this refinancing, which will facilitate its overall strategy and ongoing plans for expansion. The refinancing was an excellent opportunity for King & Wood Mallesons to continue our long-standing relationship with First Names Group and expand on our breadth of experience in the sphere of unitranche and super-senior financings.”

The King & Wood Mallesons team was led by Finance partner Lorraine Vaz, with managing associate Agnes Abosi and associate Rosanna Muñoz-Britton.