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A&O Shearman advises on the refinancing package of The Restaurant Group (TRG)

A&O Shearman advises on the refinancing package of The Restaurant Group (TRG)
Published Date
Feb 7 2025

A&O Shearman advised the banks and other financing sources on the refinancing of The Restaurant Group (TRG)’s existing debt. TRG comprises of “Wagamama”, the leading pan-Asian casual dining operator in the United Kingdom, “Pubs”, which principally operates pubs under the Brunning & Price brand, and a third silo housing all other activities of TRG (head office/concessions/Barburrito). TRG is owned by funds managed by Apollo.

A&O Shearman advised the banks, led by RBC and UBS, on the issuance of GBP330 million 8.5% senior secured notes due 2030 and a revolving credit facility for Wagamama, and the arrangers on a term loan facility and a revolving credit facility under the Pubs silo and a revolving facility under the third silo.

The A&O Shearman team was led by high yield partner Marc Plepelits, leveraged finance partner Matt Moore and real estate finance partner David Varne, counsel Temi Esho, senior associates Odysseas Theofanis and Kate McCreery, and associates Irene Mainar Borao, Gbemisola Coker, Paridhi Srivastava, Adam Harwood, Abhilasha Agarwal and Craig Shackleton. Tax advice was provided by U.K. tax partner Esther Lemmon and U.S. tax partner Jack Heinberg, counsel John Hibbard, senior associate Michael Fletcher, and associates Anna Armao and Geraldine Chan. Real estate advice was provided by U.K. real estate partner Emma Willoughby, consultant Simon Bryning and associate Christina Rothnie.

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