Appleby acted as the sole offshore legal advisor in respect of the loan note programme and the credit facility. The Crown Dependencies team was led by Andrew Weaver, Corporate Partner in Jersey, supported by Jeremy Berchem, Corporate Partner in Guernsey. Associate Paul Worsnop acted as primary contact and project lead, working with Counsel Chet Pohl and Associate Nicole Sorbie in Guernsey and Counsel Tom Brook and Associate Sophie Corkish in Isle of Man to assist Andrew and Jeremy.
Both the EMTN Programme and the New Facility are guaranteed by over 50 offshore entities from Jersey, Guernsey, the Isle of Man and the BVI with over 40 of those based in Jersey. Two tranches of Notes with an aggregate principal value of £500 million were issued under the EMTN Programme on 14 December 2017 and were admitted to the Irish Stock Exchange’s Official List and to trading on the Global Exchange Market of the Irish Stock Exchange. The notes were rated Baa1 by Moody’s Investors Service Limited.
Appleby Partner, Andrew Weaver commented: “We are very pleased to complete this latest transaction for Tritax. Appleby is incredibly proud to be associated with such an exciting brand and to work alongside the Tritax team again. The transaction is an excellent example of Appleby’s local expertise and transactional support provided by our pragmatic, client-centric and solution driven Crown Dependencies team.”
Henry Franklin, Partner of Structuring & Legal at Tritax said: “Appleby provided Tritax and our advisors with a single point of contact across all jurisdictions and consolidated advice. Appleby’s continued support in this significant and complex transaction has been greatly appreciated by the deal team.”