Milbank Advises on SIG plc’s High Yield Bond Offering

Milbank LLP has advised the initial purchasers in connection with SIG plc’s (“SIG”) offering of €300 million 9¾% senior secured notes due 2029 (the “Offering”) and the lenders in connection with the amendment and extension of its £90 million revolving credit facility agreement. In connection with the transaction, Milbank also advised the dealer managers in respect of SIG’s tender offer for its outstanding €300 million 5¼% senior secured notes due 2026 (the “Tender Offer”).

SIG used the net proceeds of the Offering for the settlement of the Tender Offer and for general corporate purposes.

SIG is a publicly listed, leading supplier of specialist building products and solutions to trade customers across the United Kingdom, Ireland and mainland Europe, with strong market positions and brand recognition in its core markets as a specialist distributor of insulation and interiors products and as a merchant of roofing and exteriors products.

The Milbank team was led by European Leveraged Finance/Capital Markets partners Apostolos Gkoutzinis and Trevor Truman, special counsel Tristram Gargent, associates Vasujith Ram, Harshil Bansal, Kui To Joshua Mo and Maxwell Short, law clerk Russell Feinman and trainee Archie Hunt. The team also had assistance from Tax partners Alan Rafferty and Andrew Walker, along with associates Liam Markham and Michelle Song.