Andrew Hagan

Andy advises issuers, private equity sponsors, underwriters, investors and ad hoc creditor groups across the full spectrum of capital structures, including secured and unsecured notes, acquisition and bridge-to-bond financings, tap offerings and private placements, hybrid capital and preferred equity instruments, PIK and holdco financings, investment grade debt, equity offerings, consent solicitations, exchange offers, liability management transactions and financial restructurings. Having represented issuers, sponsors, underwriters and investors at every stage of the credit cycle, Andy draws on a thorough understanding of each party's priorities and constraints to protect and advance his clients' interests in any situation.

Andy regularly leads cross-border transactions and coordinates multi-jurisdictional teams. He has advised on over $100 billion of transactions by companies in the automotive, business services, chemicals, consumer, energy, financial services, healthcare, infrastructure, insurance, media, packaging, real estate, retail, technology and telecommunications sectors across Europe, Africa, Asia, Australia, Canada and the United States.

Andy is ranked in Chambers UK for Capital Markets: High-Yield Products and is named a Leading Partner for High Yield in Legal 500, which describes his team as "an absolutely top-notch practice, with incredible client service, super-fast turnaround time, and outstanding technical ability. They are super commercial and business-savvy."  

Clients describe Andy as "without question, one of the finest high-yield lawyers practicing in the London market today": "an outstanding high-yield lawyer who combines exceptional technical ability with superb commercial judgement and a genuinely client-first approach." His "combination of deep technical expertise, outstanding commercial instincts, and calm, assured manner under pressure sets him apart from his peers," and his "command of credit documentation and legal precedent is unrivalled." He "can smoothly coordinate his team and foreign lawyers in complex multi-jurisdictional deals" and is also "highly effective in stressed and distressed situations," bringing "deep financing expertise alongside the tactical judgement required in contentious situations"; in short, "he gets difficult transactions done." Clients call him "the first person I call when we have a high-yield matter," "the absolute go-to guy for our high-yield work," "brilliant technically, very efficient and a pleasure to work with," and "a trusted adviser in every sense." He has been described as "simply the best in the market – technically exceptional, commercially astute, and completely dependable. Quite simply, as good as it gets."

Representative experience

• OTPP in connection with the financing aspects of the $3.4 billion sale of Trivium to Silgan
• BBGI in connection with its issuances of CAD400 million and CAD390 million senior secured notes
• Digi Spain in connection with its €330 million IPO on the Spanish Stock Exchanges
• Blackstone in connection with the refinancing of HH Global
• Advent, FedEx, A&R and PPF in connection with underwritten financing of their €7.8 billion public-to-private acquisition of InPost and the related issuance of €700 million senior secured notes and related consent solicitation and tender offer for InPost’s €850 million senior notes
• Brookfield in connection with its issuance of senior secured notes to finance the acquisition of Fosber
• An ad hoc group of creditors of Tullow Oil in connection with an exchange offer and issuance of $1.185 billion senior secured notes, $423 million junior secured notes and a $100 million super senior cargo prepayment facility
• An ad hoc group of bondholders of Maxeda in connection with its €500 million financial restructuring
• Howden in connection with its issuance of $690 million senior notes
• Shift4 in connection with its issuance of $435 million senior notes
• Iron Mountain in connection with its issuance of $1.2 billion senior notes
• Asurion in connection with the committed financing and its $3.3 billion issuance of senior secured notes to finance its acquisition of Domestic & General
• Convex Group and PSP Investments on the financing aspects of a new long-term ownership structure led by Onex and AIG
• Global Infrastructure Partners, a part of BlackRock, on the $1.98 billion sale of a 7.1% stake in Naturgy Energy Group by way of an accelerated book-built offering
• Howden in connection with the repricing and upsize of its $3.1 billion term loan
• Digi Communications in connection with its issuance of €600 million senior secured notes
• The backstop providers on £1.975 billion backstop of senior secured notes issued by Southern Water
• An ad hoc group of bondholders of Petrofac in connection with its comprehensive financial restructuring
• Kantar, a Bain Capital portfolio company, in connection with its offering of €500 million senior secured notes and €800 million senior secured floating rate notes and the establishment of a new $500 million senior secured term loan facility
• An ad hoc group of bondholders in relation to the comprehensive recapitalisation of OHL
• Ares, as PIK lender and minority shareholder, in connection with the financial restructuring of TalkTalk
• The initial purchasers in connection with Domestic & General's offering of £350 million senior secured notes and new senior credit facilities comprising a €545 million term loan facility and a £165 million revolving credit facility
• PAI in connection with its bid for Opella, Sanofi's consumer healthcare business
• CVC in connection with its bid for Schenker
• CD&R in connection with the financial restructuring of Carestream and issuance of senior unsecured convertible PIK notes
• AMC Entertainment in a series of liability management transactions relating to $2.45 billion of debt, including the issuance of $1.2 billion of new secured term loans and $414 million of new exchangeable notes to retire $1.6 billion of debt
• InPost in connection with its bid for Evri
• Blackstone in connection with the financing aspects of its acquisition of Sediver
• CPPIB in connection with the refinancing of the Davies Group's £597 million, $855 million and €16 million term loan facilities and £200 million capex, acquisition and reorganization facility
• An ad hoc group of bondholders of Intrum in connection with its financial restructuring
• Howden in connection with its delayed-draw term loan facility
• Howden in connection with its inaugural issuance of $1 billion senior secured notes and $500 million senior notes and the amendment and restatement of its credit agreement, including a new $2.925 billion first lien dollar term loan, a new €900 million first lien euro term loan and an increased £630 million revolving credit facility
• Scandinavian Airlines in connection with its sale to a consortium comprising Castlelake, Air France-KLM, Lind Invest and the Kingdom of Denmark, and the issuance of $725 million senior secured convertible notes and €250 million contingent value notes
• An ad hoc group of bondholders of China Aoyuan and Add Hero in connection with their $7 billion financial restructuring and the issuance of $143 million mandatorily convertible notes, $1.6 billion senior perpetual capital securities and $2.3 billion senior notes
• Sculptor and Värde in connection with the purchase of $75 million senior secured notes issued by PGS
• The anchor investor in a $552.5 million loan to Pogust Goodhead, the largest litigation funding transaction worldwide to date
• Goldman Sachs Asset Management and PSP Investments in connection with their underwritten purchase of €195 million senior secured notes issued by a holding company of TeamSystem, a Hellman & Friedman portfolio company
• J.P. Morgan, BNP Paribas, RBC, UniCredit and Natixis on the underwritten bridge-to-bond financing for One Rock's bid for Constantia Flexibles
• One Investment Management on its structuring and purchase of senior secured convertible bonds issued by Yoda plc
• The investors on a Rule 144A/Regulation S privately placed tap offering by Burger King France of €45 million senior secured floating rate notes
• JTI in connection with its issuance of $500 million senior notes
• Hellman & Friedman and AutoScout24 in connection with the financing aspects of AutoScout24's acquisition of a majority stake in AUTOproff
• Cinven in connection with the financing aspects of its acquisition of Ufinet
• Arxada, a portfolio company of Bain Capital and Cinven, in connection with the private placement of senior unsecured notes to finance its combinations with Troy Corporation and Enviro Tech Chemical Services
• London Stock Exchange Group in connection with the establishment of its US commercial paper programme
• Reliance in connection with its joint bid with Apollo to acquire Boots
• CPPIB in connection with its investment alongside BC Partners in CeramTec
• Getlink in connection with its offering of €150 million senior secured notes
• RAC, a portfolio company of CVC, GIC and Silver Lake, in connection with its offering of £345 million senior secured notes
• Cinven in connection with the financing aspects of its acquisition of Arcaplanet and the issuance of €550 million senior secured floating rate notes
• ConvaTec in connection with its offering of $500 million senior notes
• Bain Capital and Cinven in connection with the financing of their bid for Arxada and Arxada's issuance of $350 million sustainability-linked senior secured notes and €460 million sustainability-linked senior notes, the first sustainability-linked high yield bond issuance for an acquisition in Europe
• Mumtalakat in connection with its preferred equity and convertible preferred equity investments in McLaren
• London Stock Exchange Group in connection with its debut 144A multi-tranche offering of $4.5 billion senior notes
• Amigo in connection with its financial restructuring
• Getlink in connection with its offering of €700 million senior secured notes
• Vivo Energy in connection with its offerings of $350 million and $400 million senior notes
• Saga in connection with its offering of £250 million senior notes
• An ad hoc group of creditors of Exide Technologies in a credit bid asset sale of Exide's international operations
• Hellman & Friedman and AutoScout24 on the financing of the acquisition of LeasingMarkt.de
• CPPIB in connection with its purchase of PIK notes issued in support of Bain Capital and Cinven's acquisition of thyssenkrupp Elevator
• Bank of America, J.P. Morgan, SunTrust Robinson Humphrey and UBS in connection with Sally Beauty's offering of $300 million senior secured second lien notes
• Hellman & Friedman in connection with the first and second lien facilities supporting its acquisition of AutoScout24
• Flutter in connection with the financing aspects of its £11 billion combination with The Stars Group
• RCS & RDS in connection with its two-tranche offering of €850 million senior secured notes, the first international bond offering by a Romanian company
• CPPIB in connection with its underwriting of the loan package to fund the acquisition of Merlin Entertainments by Blackstone, CPPIB and KIRKBI
• Barclays, Goldman Sachs, J.P. Morgan and Lloyds in connection with Harley-Davidson's offering of €600 million senior notes
• Sculptor in connection with its loan to Waldorf to finance the acquisition of Endeavour Energy's North Sea assets
• MHP in connection with its offering of $350 million senior notes
• The ad hoc group of holders of €320 million senior secured notes issued by IKKS in connection with its financial restructuring
• Digi Communications in connection with its issuance of €200 million senior secured notes
• DAZN Group in connection with its reorganization and the sale of Perform Content to Vista Equity Partners
• Getlink in connection with its offering of €550 million senior secured notes
• House of Fraser in connection with its financial restructuring
• Goldman Sachs in connection with an exchange offer for £175 million senior secured floating rate notes issued by an affiliate of Domestic & General and a concurrent private placement of £43.5 million senior secured floating rate notes
• BrightHouse in connection with its comprehensive financial restructuring and debt-for-equity swap
• Liquid Telecom in connection with its issuance of $550 million senior secured notes and subsequent $180 million tap issuance
• Goldman Sachs in connection with multiple exchange offers and consent solicitations for notes issued by affiliates of Norske Skog
• Vivacom in connection with its senior facilities agreement and refinancing of $400 million senior secured notes
• The lenders to Adria Group Holding, a parent company of Agrokor, in connection with the restructuring of a €485 million PIK toggle facility
• Digi Communications in connection with its issuance of €350 million senior secured notes