Trevor K. Truman

Primary Focus & Experience

Trevor advises on public and private capital markets and finance transactions, with a particular emphasis on high yield bonds, leveraged finance and direct lending.

With nearly 20 years’ experience in both London and New York, Trevor has represented initial purchasers, issuers and sponsors in over €200 billion of high yield bond offerings, and has extensive experience advising on leveraged buyouts, direct lending, private placements, initial public offerings, general corporate matters and US securities law reporting and compliance. He also has significant experience advising issuers, noteholders and financial advisors in complex and innovative restructurings and distressed debt liability management exercises.

Representative engagements include:

• advised the dealers on the $3B bond offering by GreenSaif Pipelines BidCo S.à r.l;
• advised on CMA CGM’s high yield bond offering;
• advised the placement agents and note purchasers in connection with Grifols’ €300M private placement of senior secured notes;
• advised the initial purchasers on BAE System’s $4.8B bond offering;
• advised the note purchasers in connection with NYSE-listed Borr Drilling’s $200M placement of high yield bonds;
• advised Imagination Aero Investments Limited on its equity investment in NYSE-listed Vertical Aerospace Ltd;
• Advised the underwriters in connection with a liability management transaction by Verizon;
• advised Piraeus Holdings on fully marketed offering by HFSF of 27% stake in Piraeus Holdings;
• advised Strategic Value Partners, LLC on its acquisition of the APCOA Parking Group;
• advised the financing sources on landmark European private credit deal for Adevinta takeover offer;
• represented the initial purchasers in connection with the $1.5 billion debut high yield bond offering of Borr Drilling;
• represented the initial purchasers in connection with the project bond offering of Energean Israel (a leading Israeli offshore natural gas and hydrocarbon producer);
• advised the financing sources for the private credit financing for Blackstone and Permira’s takeover offer for Adevinta;
• represented Cedacri S.p.A. (an Ion portfolio company) in connection with its offering of high yield bonds;
• represented Public Power Corporation S.A. (the largest generator and supplier of electricity in Greece) in connection with the acquisition financing for its €1.3 billion purchase of Enel’s Romanian power assets;
• represented the lenders in connection with a term loan financing for Energean plc (a London-listed, independent Mediterranean offshore oil and gas producer);
• represented Punch Pubs Group Limited (one of the leading pub companies in the United Kingdom, with a portfolio of more than 1,200 pubs across England, Scotland and Wales), in connection with its debut high yield bond offering, a complex, landmark transaction representing the first European high yield bond refinancing of a whole business securitization structure;
• represented Public Power Corporation S.A. in connection with its landmark €1.35 billion share capital increase;
• advised the note purchasers in connection with a private placement of £1.2 billion purchase of high yield bonds to finance CD&R’s acquisition of Wm Morrisons (one of the UK’s largest grocery chains);
• represented Public Power Corporation S.A. in connection with its debut offering of sustainability-linked high yield bonds, which was the first sustainability-linked high yield offering in Europe;
• represented Mytilineos S.A. (one of Greece’s largest diversified industrial companies) in connection with its debut green high yield bond offering;
• represented the initial purchasers in connection with the debut high yield bond offering by SIG plc (a publicly listed, leading supplier of specialist building products and solutions to trade customers across the United Kingdom and Europe);
• represented the initial purchasers in connection with a high yield bond offering by Almirall, S.A. (a leading Spain-based, international pharmaceutical company);
• represented Helios Software Holdings, Inc. and ION Corporate Solutions Finance S.à r.l. (an industry-leading global technology company that provides mission-critical software, data and analytics treasury management and commodities operations) in connection with their debut high yield bond offering;
• represented ION Trading Technologies S.à r.l. (an industry-leading global technology company that provides mission-critical software, data and analytics for the trading operations of financial market participants around the world) in connection with its debut high yield bond offering;
• represented Acuris Finance S.à r.l. and Acuris Finance US, Inc. (an industry-leading global data, content and technology company combining two prominent names in capital markets data, content and intelligence: Dealogic and Acuris) in connection with their debut high yield bond offering;
• represented Cedacri Mergeco S.p.A. (an industry-leading technology company that provides core banking software, digital infrastructure, solutions and other IT services) in connection with its debut high yield bond offering;
• represented the initial purchasers on the debut high yield bond offering (and subsequent high yield offerings and acquisition financings) for Victoria PLC;
• represented the initial purchasers in the debut high yield bond offering for GEMS Education (recognized as IFLR deal of the year);
• represented the initial purchasers in the debut high yield bond offering for Kongsberg Actuation Systems B.V.;
• represented the initial purchasers in the debut high yield bond offering for Schoeller Allibert Packaging;
• represented the initial purchasers in several high yield bond offerings for CMA CGM;
• represented the initial purchasers in several high yield bond offerings for Titan Cement International;
• represented the lenders and initial purchasers on the acquisition financing and high yield bond offering for Fedrigoni (Bain acquisition financing and additional bolt-on financings);
• represented the lenders and initial purchasers on the acquisition financing and high yield bond offering for Italmatch Group (Bain acquisition financing and additional bolt-on financings);
• represented Motor Oil (Hellas) Corinth Refineries S.A. (one of Europe’s leading oil refineries) on its high yield bond offering;
• represented Piraeus Financial Holdings S.A., one of Greece’s largest and most systemically important financial institutions, in connection with its landmark €1.4 billion share capital increase;
• represented Entertainment One Ltd., one of the world’s leading independent producers and distributors of television and film content, in a high yield bond offering to support its $250 million acquisition of The Mark Gordon Company;
• advised Via Celere in connection with its Spanish real estate joint venture with Greystar;
• represented Mettler-Toledo International Inc. in connection with a series of private placements of debt securities;
• represented SNF Floerger, a leading specialty chemicals company, in connection with successive high yield bond offerings;
• advised I Squared Capital, a leading infrastructure private equity fund, in connection with the committed acquisition financing for its $1.3 billion buyout of IC Power’s Latin American and Caribbean power generation and distribution assets;
• advised the note purchasers in a private high yield bond offering to finance Centerbridge’s $800 million acquisition of re-insurer Sompo Canopius;
• represented Morgan Stanley on €1.0 billion high yield bond offering by Spanish multinational pharmaceutical and chemical company, Grifols, S.A.;
• represented the note purchasers in a €100 million private high yield bond offering by Autodis, a Bain portfolio company and auto parts distributor;
• represented Goldman Sachs and J.P. Morgan in €400 million high yield bond offering by Arrow Global, one of Europe’s leading purchasers and servicers of non-performing loans;
• represented mandated lead arrangers in £550 million acquisition financing to support Bridgepoint Capital’s leveraged buyouts of Zenith Group Holdings Ltd., a UK-based conference and event planning firm, and Contract Vehicles Holdings Ltd., a UK-based truck leasing firm;
• represented Goldman Sachs and Citigroup in €290 million senior secured high yield bond offering by Norske Skog, a leading international paper products manufacturer;
• represented Goldman Sachs, J.P. Morgan and HSBC as initial purchasers in the £220 million a high yield debt offering by Arrow Global;
• advised the note purchasers on a £130 million private placement of Second Lien Floating Rate Notes issued by Mydentist, a portfolio company of The Carlyle Group and the United Kingdom’s number one dental practice chain;
• represented Goldman Sachs, J.P. Morgan and HSBC to provide committed acquisition financing for Arrow Global’s purchase of the InVesting Group, a leading consumer debt purchaser, asset management and outsourced collections provider based in the Netherlands and Belgium, and Arrow Global’s subsequent €230 million high yield debt offering.
• represented Credit Suisse, Goldman Sachs, Deutsche Bank and HSBC on a $579 million acquisition financing package for Nord Anglia Education, Inc., an NYSE-listed global operator of premium schools and a Baring Private Equity Asia portfolio company, in connection with Nord Anglia’s acquisition of six schools from Meritas LLC;
• advised the note purchasers in connection with a £350 million private high yield bond offering by Worldpay, a leading global payment services provider and former Bain portfolio company;
• represented Goldman Sachs, Barclays, Morgan Stanley, Citigroup, Royal Bank of Canada and Deutsche Bank, in the acquisition financing for Bain Capital’s $1.55 billion acquisition of the Apex Tool Group;
• advised NYSE-listed Buenaventura Mining Company, Peru’s largest publicly-listed precious metals mining company, in connection with its high yield bond offerings, syndicated loan financings and other debt financings; and
• advised Intelsat, S.A., the world’s largest fixed satellite services company, in over $30 billion of bank and bond debt financings.

Recognition & Accomplishments

Trevor has been recognized as a Next Generation Partner in Legal 500 UK in High Yield and a Notable Practitioner in ILFR 1000. He has also been recognized as a Rising Star in New York Super Lawyers.

He earned his J.D. from Harvard Law School, LL.M. and M.Phil. from the University of Cambridge (Magdalene College), and B.A. from Purdue University.